FRANKFURT -- Volkswagen AG has been rattled to the core by a scandal that threatens to batter the VW brand around the world, hand a golden opportunity to its main rivals in Europe -- Ford and Opel -- and all but destroy a long, hard and so far fruitless effort to become a major player in the U.S.
The crisis also has left VW's stakeholders consumed with soul-searching, questioning the company's uniquely insular culture and an atmosphere that bred unaccountability.
Volkswagen admitted last week that elements within the company systematically rigged diesel cars with software to pass U.S. emissions tests. The news wiped out at one point a third of the company's value and toppled CEO Martin Winterkorn 48 hours before his planned contract extension.