Switzerland also halted the sale of other models from carmakers, including Audi, Seat, and Skoda, that have been linked to the massive emissions-faking scandal.
Suzuki Motor Corp said it has sold its entire 1.5 percent stake in Volkswagen AG to Porsche Automobil Holding SE and will post a special profit of 36.7 billion yen ($304 million) on the transaction.
As Volkswagen's diesel deception comes to light, critics say it's time to revamp auto emissions testing.
The world’s largest automaker does well in emerging markets and Europe, but it’s been struggling since 2012 in the U.S. The emissions-cheating scandal won't help.
John German, senior fellow at the ICCT, tells International Business Times he alerted the feds to the problem in 2014.
Following last week's damning revelations, the list of countries that have launched investigations into the carmaker’s malpractices has continued to grow.
The German automaker could face heavy fines from regulators in the Golden State, as well as from federal and international authorities, for cheating on emissions standards.
Critics say lax regulations at the Environmental Protection Agency made it easier for Volkswagen to game the system.
The emissions-rigging scandal that led to the resignation of the automaker's CEO was based on software, not a device.
A flurry of top-level firings is likely at VW following the company’s admission it cheated on U.S. emissions tests.
Nearly 11 million cars have been affected by the misleading software, causing uproar among Volkswagen owners and environmental protection agencies alike.
The U.S. Environmental Protection Agency claims Volkswagen has been cheating on emissions testing by deploying software that could sense when the car was being tested and thus lower the car's emissions.
The company has been rocked by the news that up to 11 million cars worldwide may have been installed with software that covertly altered the results of emissions tests.
In Japan, the Nikkei 225 ended the day 2.8 percent in the red, with shares of car manufactures falling steeply as a delayed reaction to the Volkswagen emissions scandal.
The U.S. Justice Department has launched a criminal probe and at least 25 proposed class actions on behalf of consumers have already been filed in seven states.
Worries that an eventual tightening in U.S. monetary policy and slower growth in China could knock the global economy have scared off investors, particularly those invested in stocks and commodities.
Martin Winterkorn, who was ranked the second-highest-paid chief executive in Europe prior to his resignation, may still receive pension payments worth millions.
Being accused of flouting environmental regulations and then lying about it isn't great for business, it turns out.
News of CEO Martin Winterkorn's resignation Wednesday comes days after the automaker admitted that 11 million of its cars were rigged to cheat on EPA emissions tests.
Qatar may have lost over $4 billion in its sovereign wealth fund due to its large stake in the scandal-steeped automaker.
CEO Martin Winterkorn apologized for the "irregularities" after the company admitted to using illicit software to cheat U.S. emissions tests.
Amid news that some Volkswagen Group vehicles deceive emissions testers, those who own the autos must decide whether to drive them while awaiting a recall.