By Paul Barrett, Bloomberg Businessweek
An $18 billion liability figure attached itself on Friday to Volkswagen’s diesel disaster. Tuesday morning brought news that the German carmaker has set aside $7.3 billion (€6.5 billion) to cover a scandal spreading worldwide. How to make sense of these impressive-sounding numbers?
As we all know, Volkswagen has apologized for selling hundreds of thousands of diesel cars in the U.S. with software specifically designed to evade government pollution tests. That’s bad, but it gets worse. As regulators in multiple countries have weighed in to say they would also investigate VW imports, the company disclosed that ...
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