Here's what you need to know about Volkswagen's worst crisis in 78 years. The company, the world’s third largest automaker, is now facing financial and legal consequences that threaten to bring it to its knees. While it isn't the first time an automaker has tried to cheat the emissions polygraph, the scrutiny from authorities and the public alike are considerable.
VW is now facing billions of dollars in potential fines, lawsuits and compensation charges. Criminal proceedings are being sought against the company.
This revelation, for lack of a better word, has sort of opened a Pandora's Box of ugly truths. Truths that automakers are shy to admit, until luck has its way; a scapegoat is caught with a smoking gun, there's no running away now. From the ways things have since panned out, this shakeup is proving to be ginormous and very, very costly for the world most prolific automotive group.