Volkswagen's Disastrous American Strategy

The German automaker's emissions fiasco was the result of a hasty business decision to reintroduce diesel cars in the U.S.

What did he know?

Photographer: Krisztian Bocsi/Bloomberg via Getty Images

Had Martin Winterkorn conceded defeat in his boardroom battle with Volkswagen corporate patriarch Ferdinand Piech five months ago, he would have avoided the disgrace of the company's U.S. pollution control scandal, which earlier today wiped nearly a quarter off the value of VW's stock. Instead, Winterkorn, having recently been given a five-year extension on his contract, has some tough questions to answer.

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