Volkswagen Issues Earnings Caution Over Fee Of Diesel Repairs

Carmakers sold about 150,000 fewer diesel cars during the first six months of the year than they did in the first half of 2016.
A day before the profit warning, a prominent former manager at Volkswagen was jailed in Munich on charges related to the diesel emissions scandal.
Volkswagen was already under pressure from slipping market share in Europe and from enormous change in the industry.
The shift could change the industry pecking order, and the cost of the scandal could impair Volkswagen’s ability to compete.
The company said on Friday that the technical problems apply to cars with two-liter diesel motors, which account for about 500,000 vehicles out of the total.

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