Volkswagen shares slide again as company scrambles to contain emissions scandal fallout

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In this Sept. 22, 2015 photo a VW logo is reflected in a puddle at the Volkswagen headquarters in Wolfsburg, northern Germany. Volkswagen AG\'s smog-test scandal escalated Tuesday as the company acknowledged putting stealth software in millions of vehicles worldwide. (Julian Stratenschulte/dpa via AP)

BERLIN – Shares in Volkswagen AG are heading south for a third consecutive day as the automaker scrambles to contain its widening emissions-rigging scandal.

Volkswagen’s share price fell 4 per cent to 101.75 euros in early Frankfurt trading Wednesday. The fall follows declines of 17 per cent and 20 per cent in the first two days of the trading week.

On Tuesday, VW said 11 million of its diesel vehicles worldwide contain software that can evade emissions controls, far more than the 482,000 cars identified by U.S. authorities as violating clean air laws.

CEO Martin Winterkorn said he was “endlessly sorry” and asked in a video message for “your trust on our way forward.” Questions remain about his future.

The executive committee of Volkswagen’s supervisory board is expected to discuss the scandal Wednesday.

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