Besides suffering sales online, the company said its supply chain was dented and there was a 15-18 percent decline in sales in the last few weeks.
The European Commission has found that Volkswagen broke consumer laws in 20 European Union countries by cheating on emissions tests, German daily Die Welt reported, citing Commission sources.
According to Sanger, there is surplus liquidity in the world and scarcity of growth and India is the only bright spot. Its GDP is expected to move from 5 percent to 6.5 percent in the next few years. He says the outlook for India has improved in past few months.