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How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

2

Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

3

The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner

1

How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

2

Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

3

The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
Volkswagen

Volkswagen got even more bad news this morning

By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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October 26, 2015, 11:04 AM ET
US-VOLKSWAGEN
The logo of German car maker Volkswagen (VW) is seen at Northern Virginia dealer in Woodbridge, Virginia on September 29, 2015. Photograph by Paul J. Richards — AFP/Getty Images
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Fresh on the heels of its diesel emissions scandal, Volkswagen no longer leads global auto sales.

Bloomberg reported Monday that Toyota sold 7.49 million cars in 2015 through September, while Volkswagen reported selling 7.43 million.

Volkswagen led global sales for three months ahead of reporting its latest figures. The September results include less than two weeks of sales figures after Volkswagen admitted to installing software dubbed “defeat devices” in some of its cars to cheat diesel emissions figures. The scandal forced the company’s chief executive, Martin Winterkorn, to resign.

“Toyota will be the No. 1 for this year,” auto analyst Koji Endotold Bloomberg. “VW may be facing sales difficulties due to the scandal toward next year in Europe and the U.S., and I don’t see the Chinese market coming back anytime soon.”

About the Author
By Benjamin SnyderManaging Editor
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Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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