VW emissions scandal still obscured by a cloud

The carmaker's beleaguered management insist they are aiming for clarity. But obvious questions are still not being answered

The surprise is that Volkswagen's shares fell only 10% as the cheating affair deepened in several ways. First, the scandal now covers emissions of carbon dioxide, or CO₂, not only nitrogen oxide. Second, some petrol engines are now involved. Third - perhaps most importantly for shareholders who hope VW can recover quickly - the company still seems incapable of giving a straightforward account of what its own investigation has uncovered.

Tuesday evening's statement contained the obligatory expressions of regret and commitment to transparency. Indeed, Matthias Mi1/4ller, the executive shoved into the hot seat in the first week of the crisis, opted for pomposity overdrive.