• The Drum, Tuesday, September 22, 2015 6:45 AM

Volkswagen has lost almost a quarter of its market value after it admitted to cheating on US air pollution tests for years. Chief executive officer Martin Winterkorn faces a massive challenge to repair the damaged reputation of the world’s biggest carmaker and speculation is growing that he may be forced to quit. The shares plunged as much as 23 percent to 125.40 euros in Frankfurt, extending the stock’s slump for the year to 31 percent. The drop wiped out about 15.6 billion euros ($17.6 billion) in value.

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