Volkswagen shares skid as emission scandal widens

Shares in German auto giant Volkswagen skidded five per cent lower at the start of trade today following new accusations in the United States over the massive emissions-cheating scandal. Shortly after trading began on the Frankfurt stock exchange, VW shares tumbled 5.1 percent to 107.00 euros after US regulators accused the carmaker of fitting illegal “defeat devices” in its larger 3.0 litre diesel engines.