Summary: Volkswagen admits that it cheated on smog tests for almost a half-million diesel engines in the US, with 50,000 to 60,000 in California alone. Company stock is already falling, fines could amount to $18 billion and all those vehicles will have to be retrofitted. That's if customers bring them in. Are they likely to do that when the whole point of the cheating was making the cars fun to drive?
