A Volkswagen 2.0 TDI Biturbo engine is seen in front of a Volkswagen Variant during the Frankfurt Motor Show (IAA) in Frankfurt, September 21, Germany. REUTERS/Ralph Orlowski
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The head of Volkswagen came under pressure Monday as the company saw around 15 billion euros ($16.9 billion) wiped off its market value following revelations that the German carmaker rigged U.S. emissions tests for about 500,000 diesel cars.Stadler said that if VW were a U.S. company, the CEO would have gone immediately.Volkswagen stands accused of skirting the U.S. Environmental Protection Agency's clean air rules.The EPA said VW used a device programmed to detect when the cars are undergoing official emissions testing. Volkswagen marketed the diesel-powered cars, which account for about 25 percent of sales, as being better for the environment.The EPA has ordered VW to fix the cars at its own expense but said car owners do not need to take any immediate action.VW edged out Toyota to become the world's top-selling automaker in the first half of 2015 .The Japanese automaker recalled 9 million cars between 2009 and 2011 after some of its vehicles experienced unintended acceleration, way more than the half-million or so that VW is having to take back.
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