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The statement came as investors awaited a decision from VW’s board after the market close on who will replace Martin Winterkorn as chief executive, amid reports that Porsche’s CEO Matthias Mueller is the front-runner.

According to the EPA website: “The November alleges that four-cylinder Volkswagen and Audi diesel cars from model years 2009-2015 include software that circumvents EPA emissions standards for certain air pollutants”.

He had been tipped to replace Winterkorn during the latter’s bitter feud with his one-time mentor and former supervisory board chief Ferdinand Piech earlier this year.

Italian prosecutors have opened a preliminary probe, a judicial source said, and the executive European Commission urged all member states on Thursday to investigate how many cars use illegal “defeat” devices in emissions tests.

Ulrich Hackenberg, chief technology officer of VW’s Audi unit, and Wolfgang Hatz, board member for research and development at VW’s Porsche AG, will lose their jobs over the scandal, two people familiar with the situation said Thursday. At the same time, Matthias...

Tesla’s Model S has a big front truck, commonly known as the “Frunk”, and is a huge advantage for people who roam around with a lot of stuff, but it can’t fit even one golf bag. But as safety records improved, and the Tesla brand name gained acceptance, more and...

The electric four-door, four-seater coupe provides a preview of the next Panamera due next year and shows how the current PHEV model could be evolved.

Tolerances built into the architecture of the new engines will allow them to be scaled in capacity, according to sources.