FX.co ★ Who tried to falsify the environmental tests

The other day the German auto group Volkswagen admitted that around the world 11 million automobiles were equipped with the software to falsify the results of the harmful emission tests. The test pass is a necessity in USA.

On Tuesday, the company reported that $7,3 billion had been allocated from its budget to replace software and cover other related costs.

Nowadays the concern actively works on the elimination of violations which allowed to circumvent American emission standards.

After Volkswagen admitted to the falsification, on Tuesday, the Minister of Finance of France Michel Sapin appealed to conduct the investigation against automotive emissions all over Europe.

Speaking live on French radio, Sapin said that French automakers should pass tests at the same level with Volkswagen products, although he specified that he had no reason to suspect French manufacturers of any fraud.

Now the company should replace the software in automobies that will lead to extensive costs. Besides, it is facing a fine of up to $18 billion.

On Monday, the Volkswagen stock declined by 20%.