Volkswagen has been in the center of public scrutiny and outcry following the discovery that the company cheated on some of its emission test results. The German automaker released a statement on Wednesday claiming that the emission test result mishapp twas not as huge as it was originally anticipated.

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Volkswagen said that it may have overstated things while admitting the auto emission problems in November. The initial number of cars Volkswagen admitted were part of the scandal was 800,000. On Wednesday, Volkswagen said that only a small fraction of that number was actually affected and no more than 36,000 units.

The German automaker claims that the company's initial investigation revealed slight deviations on nine of its brand model variants. The company added that fuel consumption data on current production cars were not unlawfully changed.

In a statement obtained by The Wall Street Journal, Volkswagen said, "Whether we will have a minor economic impact depends on the results of the remeasurement execise."

German transportation regulators are yet to confirm whether the new figure Volkswagen gave actually holds truth. In case Volkswagen's new assessment is true, the company will have to pay only a fraction of the $2.2 billion in tax incentives that the company received in Europe.

Tax breaks are given by governments based on the amount of carbon emissions and good fuel economy that car manufacturers report, according to The New York Times.

Market analysts believe that the $2.2 billion worth of possible fine is only a fraction of how much Volkswagen could end up paying in order to cover the cost of recalling and repairing all the cars that were part of the scheme. Volkswagen could also face billions worth of fines and lawsuit settlements once regulators start to assess the main root or cause of the problem.

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