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Garnry: The worst is not over for VW and here's why

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September 23, 2015 auto, auto industry, autoplay, autos, car, car industry, carney, carry trade, cars, carscars, dax, dax index, dax index trends, dax price, dax target, dax trading, emmisions, emmissions, eq, equities, equities 2014, equities prices, equities saxo, equities strength, equities trading, equities v bonds, equity, equity analyst, equity bubble, equity clients, equity correction, equity decline, equity index, equity market, equity market 2014, equity markets, equity platform, equity portfolio, equity portfolios, equity research, equity rise, equity risk premium, equity strategy, equity trading, equity us, german, german economy, germany, peter garnry, saxo tv, scandal, scandinavia, sh, share price, shares, shares 2014, shares down, shares prices, shares up, stock market, stocks, trading, tradingfloor.com, us, us dollar, us economy, usa, usd, usdeur, usdjpy, volkswagen, vw, vwvw
23 billion euros have been wiped off the value of German car maker Volkswagen, so far, after the firm admitted it had cheated US emission tests. There appears to be every indication that the scandal can only spread with the stench of suspicion starting to linger around other European auto manufacturers as well. Saxo TV understands that at least one major vehicle maker has ordered an immediate internal audit of its own testing compliance. 

Saxo Bank's Head of Equity Strategy Peter Garnry discusses the implications of the VW revelations and the long term damage from an investor's point of view.