VW investors add to company woes

Volkswagen investors are understood to be chasing £3.4bn in compensation following the the emissions scandal.

It’s been reported that 170 investors are making the claim for losses which are a result of dieselgate, which saw share prices plummet last September.

This news comes just weeks after it was announced that the German state of Bavaria was also suing the carmaker for losses of more than half a million pounds

Meanwwhile, the news for VW didn’t get much better last week when it was reported that tens of millions of vehicles its sold in the last 20 years can be easily hacked.

Computer security experts at the University of Birmingham in England have published a paper outlining how they were able to clone VW remote keyless entry controls by eavesdropping nearby when drivers press their key fobs to open or lock up their cars.

Models that could be vulnerable to this attack include most Audi, VW, Seat and Skoda models manufactured sold since 1995 and many of the approximately 100 million VW Group vehicles on the road since then, the researchers said. The flaw was found in car models as recent as the Audi Q3, model year 2016.

The paper said, ‘It is conceivable that all VW Group (except for some Audi) cars manufactured in the past and partially today rely on a ‘constant-key’ scheme and are thus vulnerable to the attacks.’