#1. Volkswagen: The scandal explained
Written in October 7, 2015
Link >> http://www.bbc.com/news/business-34324772
(1) What is Volkswagen accused of?
VW had sold about 11 million cars worldwide are fitted with cheating devices, changing the performance accordingly to improve test results.
(2) Full details of how it worked
(3) What has been VW's response?
- Recalling almost 500,000 cars in the US alone, it has set aside €6.5bn (￡4.7bn) to cover costs.
- Drastic fall of stock prices
- Paid a maximum fine of about $18 bn
- Legal action from consumers and shareholders may follow

For more detail, follow the link :)

#2. Consequences of the VW scandal
Link >> http://www.wsj.com/articles/volkswagen-evaluating-emissions-scandals-impact-on-companys-finances-1443980626
(1) Car maker weighs options if crisis takes bigger-than-expected toll on $28 billion cash cushion.

Link >> http://fortune.com/2015/09/30/volkswagen-diesel-scandal-consequences/
(2) The company’s deception could exceed $100 million in costs from health damages.

Link >> http://fortune.com/2015/09/28/volkswagen-emissions-scandal-consumer-costs/
(3) VW owners of “clean diesel” vehicles will incur lost resale value as high as $5,000 per vehicle.