Volkswagen takes $18 billion hit over emissions scandal

New cars of several brands of German car maker Volkswagen AG are covered with protective covers before they are loaded for export on a transport ship at the harbor of the Volkswagen plant in Emden, Germany, April 24, 2009.

Volkswagen (VW) said on Friday it would take a 16.2-billion-euro ($18.2 billion) hit to its 2015 results and slash its dividend to help pay for its emissions-test cheating scandal.

The news came amid growing signs a regulatory clampdown in the wake of VW's (VOWG_p.DE) cheating is affecting the broader industry, with Germany-based automakers including Mercedes-Benz, and Opel - as well as VW - agreeing to recall a total of 630,000 cars to fix diesel engine technology blamed for high pollution.