Europe's largest carmaker Volkswagen said today it was recalling 870,000 vehicles worldwide due to problems with their front axle, the firm's third major recall this year.
The vehicles affected are Passat models built between 1996 and 1999, Audi A4 and A8s from 1994 to 1999 and Audi A6s built between 1997 and 1999, VW said in a statement.
The axle's rubber boots can get damaged, which can "lead to premature wear and in isolated cases to the failure of the bearing arm, mainly on high-mileage vehicles," it said.
Shares in VW slid as much as 2.63 per cent to €37 on the news, erasing euro320 million from its market capitalisation.