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Volkswagen Shares Nosedive

volkswagenAs a Binary Options trader you will no doubt have got used to expecting the unexpected, and the banking market sector for example is one that is sure to offer a very volatile market place.

The volatility in that market sector is of course due mainly to a series of financial irregularities and/or miss-selling exploits undertaken by some of the world’s biggest banks, but you may not be expecting a similar thing from the motor industry market sector.

In fact it is usually vehicle recalls that will have an instant and immediate negative effect on the value of vehicle manufacturers’ shares. However, a new scandal has just hit the news headlines and that news has resulted in Volkswagens’ shares take a massive hit.

It would appear that Volkswagen has installed a piece of software on their most recently manufactured cars that has been able to adjust the way the engine runs when the onboard computer senses that an emissions test is being performed.

That software then makes the engine run in a different ways which results in the emissions being released from the engine being much lower than when the vehicle is running in the normal way.

The upshot of that software has enabled Volkswagen to proudly if not fraudulently claim their cars are very low emission vehicles and this ruse has appeared to have worked for quite a number of
years now and has gone unnoticed by consumers and vehicle test centres.

With consumers always eager to purchase vehicles which have very low emissions and with most Governments of the world demanding lower and lower emissions from vehicles on their road networks this admission by Volkswagen has shaken the motor industry to its core.

Once Mike Horn who is the US Boss of Volkswagen went on public record to admit his company had installed that piece of software on their recently manufactured vehicles he immediately issued a grovelling apology and stated that the company has set aside £4.7billion to pay for the sure to follow fines that will be given to his company.

However, it is not only the courts and regulators that will be hitting his company with fines there are millions of Volkswagen car owners who are also going to be seeking redress. If you are thinking of placing any type of Binary Options on the vehicle market sector then you need to be aware the value of Volkswagen shares in particular are likely to be on a downward cycle for quite some time.

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