Volkswagen Rocked by US Emissions Scandal as Stock Slides 17 Percent

BERLIN— Pressure piled on the head of Volkswagen on Monday in the wake of an emissions-testing scandal that’s seen around 15 billion euros ($16.9 billion) wiped off the company’s market value.Following revelations that the German carmaker had rigged ...

FILE - In a Tuesday, May 5, 2015 file photo, Volkswagen CEO Martin Winterkorn addresses the shareholders during the annual shareholder meeting of the car manufacturer Volkswagen in Hannover, Germany. Winterkorn apologized Sunday, Sept. 20, 2015, after the Environmental Protection Agency said the German automaker skirted clean air rules by rigging emissions tests for about 500,000 diesel cars. "I personally am deeply sorry that we have broken the trust of our customers and the public," Volkswagen chief Martin Winterkorn said in a statement. AP Photo/Frank Augstein, File

BERLIN—Pressure piled on the head of Volkswagen Monday in the wake of an emissions-testing scandal that saw more than 13 billion euros (around $15 billion) wiped off its market value in one trading session.

Following revelations that the German carmaker had rigged U.S. emissions tests for about 500,000 diesel cars, the company saw its share price in Frankfurt close down a stunning 17.1 percent at a near three-year low of 133.70 euros. Earlier in the session it had fared even worse, tumbling by more than 20 percent.

VW has pledged to cooperate with regulators in an investigation that could, in theory, see the company fined up to $18 billion.