Continental AG's CEO says the diesel scandal that Volkswagen finds itself embroiled in could kill the marketplace for diesel vehicles in China, Japan, and United States.
Elmar Degenhart tells German publication Boersen-Zeitung, "The diesel passenger car could sooner or later disappear from these markets."
Degenhart also revealed that diesel had a market share of only 1 to 3 percent in these countries. This pales in comparison to Europe where diesels make up 53 percent of the market.
Interestingly, the diesel scandal hasn't affected sales of diesel vehicles in Europe or the U.S. according to Continental's finance chief last month.
Source: Boersen-Zeitung via Reuters