Volkswagen admitted Tuesday that as many as 11 million of its vehicles may be affected by software that downplays emissions during testing. In a statement, the German auto maker said that it is “working intensely to eliminate these deviations through technical measures.” The company dedicated $7.3 billion to deal with the situation. VW shares dropped an additional 20 percent Tuesday, cutting the company’s market capitalization by more than $31 billion just this week. CEO Martin Winterkorn issued a statement Tuesday saying he is "deeply sorry."
