http://online.wsj.com/news/articles/SB10001424052702303289904579197253153734432 – Wolkswagen Issues Global Recall by Wall Street Journal

Volkswagen AG is the third biggest motor vehicle company and the biggest European car manufacturer. It consists of many marques: Audi, Volkswagen, Seat, Bentley, Bugatti, Lamborghini, Porsche, Skoda, Ducati, MAN and Scania.

On Thursday, Volkswagen AG announced a recall of about 2.6 million cars worldwide. 640,000 Volkswagen and Audi cars are recalled in China because of a problem with new synthetic oil used in their gearboxes. Earlier this year, the company recalled about 400,000 cars to fix the issue with the same model of gearboxes. However, a cost of the recall is estimated to be relatively low.

All these issues may damage Volkswagen’s reputation on Chinese market which is crucial for it being its largest market. Despite current problems, company’s stocks keep on rising. Company’s shareholders believe in the company and are optimistic about its future.