Shares in German carmaker Volkswagen were up in early trading on Wednesday after the company agreed to a multi-billion dollar settlement in the U.S. Fred Katayama reports.
The breath of fresh air Volkswagen investors were gasping for... The German carmaker agreeing to a draft multibillion dollar fine and a guilty plea for criminal misconduct in the U.S. Shares turned a corner on the news... rising more than 2 percent in early trading. Independent capital market expert Oliver Roth: (SOUNDBITE) (German) INDEPENDENT CAPITAL MARKET EXPERT, OLIVER ROTH, SAYING: "VW is absolutely capable of managing the situation even if they face up to a possible 20 billion euro fine because of Dieselgate." So why has the company put its foot on the accelerator now? Perhaps - say some - to avoid traffic jams down the road before President-elect Donald Trump's administration takes office. It's hardly the end of VW's legal stalls. Other U.S. cases loom - including one from investors and others from about 20 separate states. In the UK, too - there could be a case for compensation for British drivers. For buyers of the brand though - this may all be hot air... VW Group announced on Tuesday record sales in 2016.