Volkswagen loses $10 bn in brand value

Volkswagen has lost an estimated $10 billion in brand value since the emission scandal emerged last week, according to Brand Finance. "At Brand Finance's last calculation VW's brand value stood at just over $31 billion, making it the world's third most valuable auto brand. The developments of the last few days will undoubtedly send this trend into reverse, resulting in $10 billion in lost brand value. The apparent ease with which the company's activities were uncovered makes it all the more astonishing that VW was willing to endanger its most valuable asset," David Haigh, CEO of brand valuation and strategy consultancy Brand Finance, said.