(MENAFN- ProactiveInvestors)German car maker Volkswagen has fallen deeper into the mire after it admitted 800000 more of its cars demonstrated 'inconsistencies' in emission tests. The company has previously admitted cheating diesel emissions tests in the US by installing certain software in vehicles but the latest revelation extends the scandal to petrol-fuelled cars. Volkswagen said it faces about €2bn in economic risks from the newly disclosed issue which predominantly affects small diesel engines and one petrol one; the €2bn is in addition to the €6.5bn provision against earnings set aside to cover the costs of the fall-out from the first emissions scandal. 'As official fuel consumption figures were also set too low there is risk of backlash from consumers and current owners may well claim damages' suggested Daniel Aikenhead at wealth management group Killik. 'With the continued uncertainty around these issues and the potential long-term cost we believe that VW remains uninvestable and that the issue is likely to spread across the industry' Aikenhead said. The revelations are unrelated to US regulators' claims that emerged on Monday alleging that larger diesel engines mostly used in Porsche and Audi sports utility vehicles (SUVs) were designed to cheat emissions tests. Volkswagen is talking to the authorities about how to proceed in view of the latest findings but its recently installed chief executive Matthias Mueller vowed to 'stop at nothing and nobody' to clarify what has been going on at VW in terms of its approach to emission tests. In its results statement in late September it said up to 11 million cars worldwide were affected and possibly subject to a global recall and the fall-out from the latest findings seems to end any hope of VW quickly drawing a line under the scandal. Shares in VW ended the lunchtime session 3.8% lower at €119.45. The shares were trading above €160 before the diesel emissions scandal broke.
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