Breaking News: VW CEO Martin Winterkorn Resigns After Emissions Scandal

VW’s emissions-related scandal proved to be too big for CEO Martin Winterkorn, who has just announced his resignation.

Martin Winterkorn took responsibility for the rigging of US emissions tests and made the decision to step out as CEO – although he says he is not aware “of any wrong doing on my part.”

Here’s the entire statement posted on VW’s media website:

“I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group.

As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group. I am doing this in the interests of the company even though I am not aware of any wrong doing on my part.

Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation.

I have always been driven by my desire to serve this company, especially our customers and employees. Volkswagen has been, is and will always be my life.

The process of clarification and transparency must continue. This is the only way to win back trust. I am convinced that the Volkswagen Group and its team will overcome this grave crisis.”

The statement comes less than a day after VW Group issued a video apology from Martin Winterkorn in relation to the manipulation of emissions results on diesel-powered models. Apparently, that was not enough.

More had to be done in the wake of the scandal which drove down VW shares by 30 percent and the resignation may be a sign for the markets that the company is committed to right the wrong.

But bad news continues for VW. After the company admitted that some 11 million vehicles sold worldwide are fitted with the so-called “defeat device”, German prosecutors opened an investigation into the manipulation of vehicle emission test results.

France’s Energy Minister Segolene Royal said her country would be “extremely severe” if its investigation into VW found any wrongdoing.

In the United States, authorities are planning criminal investigations after discovering that VW used a software in its diesel-powered cars which concealed true emissions when the cars were being tested.

VIDEO

Car Flies Through Median Strip, Rolls Over In Front Of Dashcam Car

This was a very close call and it was fortuitous that the out of control car didn’t hit anyone else.

BMW X2 M35i Sounds Fittingly Angry During Nurburgring Testing

BMW X2 buyers will soon have more options as a 300 HP version will join the range.

McLaren 600LT Puts On A Flame-Spitting Show At Goodwood

McLaren’s latest sports series model doesn’t need an aftermarket exhaust system to put on a fiery show.

Dodge Demon, Viper GTS And Corvette C6 ZR1 Go To Battle In Forza 7

If you can’t have a drag race in real life, the next best thing is to see what they’ll do on a driving simulator.

Customized Nissan GT-R Gets Adjustable Suspension, Bronze Rims

Thankfully, the ride height can be jacked up, or else it would scrape the underside in even the tiniest imperfection.

Aston Martin Volante Vision Concept Is Yet Another Flying Vehicle You Can’t Buy

Don’t get a loan just yet the Aston Martin Volante Vision is very much a concept.

Scuderia Cameron Glickenhaus’ 006 Combines Classic Ferrari Looks With A 650 HP Engine

The SCG 006 appears to draw inspiration from the Shelby Daytona and Ferrari 275 GTB.

2019 Nissan Leaf E-Plus Will Have 200 HP, 200+ Mile Range

The long-range Nissan Leaf will be far more capable than the standard model..

BMW X7 Flaunts Its Super-Sized Styling As It Prepares To Battle The Mercedes GLS

The range-topping X7 is expected to have a twin-turbo V8 with 456 hp.

100,000th Lotus Is An Evora GT410 Sport That Pay Tributes To Jim Clark

The special edition Evora will be raffled off to raise funds for a new Jim Clark Museum.