Shares in big German car makers have come under pressure this week amid allegations of collusion.
Nevertheless, Volkswagen shares enjoyed something of a bounce today, rising by around 2%.
With Volkswagen having lost 13% since January this year, investors may be sensing something of a bargain.
EU competition probe
Shares in German car manufacturers lost ground over Monday and Tuesday after the European Commission said it would be investigating allegations of collusion between the likes of Volkswagen, BMW and Daimler.
Reports appeared in the German press at the weekend alleging that the big German auto names had been secretly collaborating with each other on technology for years.
The car makers could face billions in fines should the EU uncover evidence of a cartel.
The latest revelations come as Volkswagen is still trying to put the emissions scandal behind it, having admitted to cheating in emissions tests in 2015.
In all, the saga has so far cost Volkswagen a staggering $24bn in North America alone.
This week the US courts revealed that Oliver Schmidt, the former head of Volkswagen´s US environmental compliance unit, would plead guilty for his part in the fraud.
Volkswagen shares are down by around 32% since August 2015. It remains to be seen whether the latest setback will throw the shares off course again, as investors mull the prospect of swingeing fines from the EU authorities over the allegations of collusion.
In May, Volkswagen announced that its first-quarter operating profits had surged by around 40% from the year-ago period aided by a cost-cutting programme across its VW marque.