The emissions scandal at German carmaker Volkswagen has rocked the sector since the weekend. Here is an overview of events:
Berlin (dpa) - September 18: The US Environmental Protection Agency accuses the German firm of using software to circumvent standards for certain air pollutants. VW initially refuses to comment.
September 19: The German environmental group Deutsche Umwelthilfe calls for a driving ban on diesel cars, claiming the problem is not unique to the US, but even worse in Europe.
September 20: Volkswagen chief Martin Winterkorn announces a comprehensive investigation. "I personally am deeply sorry that we have broken the trust of our customers and the public," he says in a statement, promising to make the issue his "first priority."
A VW spokesman admits later: "The manipulation of the installed software did occur."
September 21: Volkswagen halts the sale of diesel cars with four-cylinder engines in the US. This affects both models by VW and its subsidiary Audi, including used cars.
VW shares plunge amid the deepening crisis. Its stock is down 22 per cent at 126.4 euros (143 dollars) in late morning trading on the Frankfurt share market.
German Economics Minister Sigmar Gabriel lashes out at VW‘s action as "the worst case."
In the afternoon it emerges that Volkswagen‘s board is to hold a crisis meeting on Wednesday. Michael Horn, chief executive of Volkswagen Group of America, tells an audience in New York at a launch event for the company‘s new Passat model: "In my German words, we totally screwed up."
September 22: Other countries, including Australia and Italy, join in calls to clarify the extent of the damage.
Volkswagen sets aside 6.5 billion euros (7.3 billion dollars) to cover costs of the investigation. Shares in Volkswagen crash again.
In a video statement, Winterkorn says he is "terribly sorry" for the scandal that has rocked his company, saying it "contradicts everything that Volkswagen stands for."
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Time-out from the eurozone
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