rocketed. Ms Hopley added: “The spike in political risk should not go unnoticed.” News of the company’s deceit - which had run for years - wiped tens of billions of euros from VW's value and cost chief executive Martin Winterkorn his job. It has also opened VW up to huge compensation claims, legal action and has seen it take more than €16bn of provisions. The probe began in June, focusing on Mr Winterkorn and brand chief Herbert Diess, who remains at the car maker. He was promoted to chairman in October 2015, the month after the scandal was unearthed. Businesses had expected to start contracting in July, immediately after the Brexit vote, but instead have managed to keep growing steadily. Retail and wholesale businesses expanded as shoppers remained