Volkswagen to face tough questioning as it unveils third-quarter results

Car-maker Volkwagen is likely to face tough questioning about how it will pay for the multi-billion pound cost of the emissions scandal when it unveils its third-quarter results on Wednesday.

According to reports, one possible option is the spin-off or listing of Porche.

"They could list 40% of Porsche and maintain control and that would unlock a lot of value for shareholders, Evercore automotive analyst George Galliers told the Sunday Times.

"It's a question they will get from the investment community. With Ferrari [which last week was floated by Fiat Chrysler], we now have a brilliant case study of arguably how easily it can be achieved."

Moody's has estimated Volkswagen could face costs of up to £20bn, significantly more than the £4.7bn the company has so far set aside to cover recalls and potential fines and lawsuits.

As many as 11m cars are believed to have been affected by the scandal.