Estimates of the cost burden Volkswagen will bear as a result of its diesel emissions scandal keep escalating. The most mind-boggling calculation so far comes from Credit Suisse -- $86 billion.
In a note to investors, the Zurich-based financial services giant pegged that as the worst-case scenario. By comparison, BP paid out $53.8 billion for its 2010 Deepwater Horizon oil spill.
Credit Suisse cited a best-case of about $26 billion, more than three times the $7.3 billion VW has set aside to deal with the crisis.
"The market does not appear to be discounting negative knock-on effects," wrote Credit Suisse analysts, according to CNNMoney.
Credit Suisse confirmed the numbers to the website CNET but did not release the investors note. The firm's worst-case scenario argues VW's costs could explode because of the expense of recalling the TDI diesel models. Credit Suisse says VW may have to reimburse customers for damages to the tune of $33 billion because of the reduced performance of the vehicles it fixes.
Volkswagen Group CEO Matthias Mueller conceded last week that the $7.3 billion earmarked for repairs of 11 million rigged diesel vehicles won't be enough to cover fines and potential legal damages as well.