Volkswagen share price rises on reduced count of cars with CO2 emissions inaccuracies

Lynsey Barber
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VW had previously estimated that 800,000 cars could be affected (Source: Getty)

Volkswagen has drastically reduced its count of how many vehicles' CO2 emissions were inaccurate, sending shares up more than three per cent.

"Following extensive internal investigations and measurement checks, it is now clear that almost all of these model variants do correspond to the CO2 figures originally determined," the company said in a statement.

"This means that these vehicles can be marketed and sold without any limitations,"

VW had estimated that 800,000 cars were affected by "irregularities" in levels of CO2 they emit, at a cost of €2bn (£1.45bn).

An internal investigation now puts that number far lower - 36,000.

"The negative impact on earnings of €2 billion that was originally expected has not been confirmed. Whether we will have a minor economic impact, depends on the results of the re-measurement exercise," it added.