"The Department of Justice is working closely with the EPA in the investigation into these allegations."
Volkswagen announced its next CEO Friday to replace Martin Winterkorn who stepped down in the wake of a growing emissions scandal.
European stocks closed sharply higher on Friday, shaking off the Volkswagen scandal and taking positive sentiment from the Federal Reserve.
Automobile stocks have fallen this week, but one portfolio manager says there are bargains to be found in the group.
Former GM Vice Chairman Bob Lutz tells CNBC he would not know where to start if he were the next CEO of Volkswagen.
Squawk Box Live in Europe had all the news and analysis on the unfolding emissions scandal.
Here are some of the winners and losers of the biggest scandal to hit Volkswagen in its 78-year old history.
For a year, VW officials insisted to U.S. regulators that tests on its diesel cars showing a spike in pollution levels on the road were in error.
Jim Cramer takes the German word ‘schadenfreude’ to its logical conclusion with Volkswagen.
Jim Cramer thinks this market is irrational right now, and stocks are headed lower. The key is patience.
"You now have a passionate constituency that feels betrayed," said Mike Jackson, CEO of Florida-based AutoNation.
Shares of BMW drop sharply on a report that its diesel engines "significantly" exceeded regulatory limits. VW's SEAT also implicated.
More than two years after researchers reported abnormalities in Volkswagen emissions, the automaker is engulfed in a scandal.
Matthias Muller, the current chief of Volkswagen subsidiary Porsche, is expected to be named CEO of Volkswagen, sources told CNBC.
Platinum gained ground after a four-day rout prompted by fears that auto industry demand could take a hit following the Volkswagen scandal.
One analyst says an automaker that competes with Volkswagen may have the right product formula to benefit now.
Volkswagen's emissions cheating scandal has divided investors on Asia's auto stocks.
European stocks closed sharply lower on Thursday, as the fallout from the Volkswagen emissions scandal caused auto stocks to tumble.
In light of the storm surrounding accusations that Volkswagen rigged their cars to pass emission tests in the U.S., CNBC looks at other auto scandals.
German business sentiment unexpectedly rose in September, the Ifo Institute said on Thursday.