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  • William Maley
    William Maley

    As the Diesel Emits: Volkswagen's Total Diesel Emission Scandal Bill Rises to $30 Billion

    Ka-Ching!

    Volkswagen's decision to use illegal software on their diesel vehicles has been costing them dearly. Reuters reports that Volkswagen is setting aside an additional 2.5 billion Euros (about $2.95 billion) due to difficulties with fixing the affected diesel models, particularly with the hardware.

    "The reason is an increase in provisions relating to the buyback/retrofit program for 2.0l TDI vehicles, which is part of the settlements in North America that is proving to be far more technically complex and time consuming," the company said in a statement.

    This pushes the total bill to $30 billion.

    The news comes a day after German prosecutors arrested Wolfgang Hatz, former r&d head of Porsche and head of powertrain development for Audi and Volkswagen. Hatz is being questioned by prosecutors for his involvement in the diesel emission scandal.

    “Investors will understandably worry what else may be next,” said BNP Paribas analyst Stuart Pearson.

    This news brought the share price of Volkswagen down three percent.

    Source: Reuters


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    AND In Breaking news we have More Black Eye's scheduled for VW!

    Makes one wonder how fast all the Diesel's will Die and their EV product line will emerge. If they still have cash to create anything. :scratchchin:

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    On 9/29/2017 at 3:53 PM, dfelt said:

    AND In Breaking news we have More Black Eye's scheduled for VW!

    Makes one wonder how fast all the Diesel's will Die and their EV product line will emerge. If they still have cash to create anything. :scratchchin:

    Shouldn't that be "new's"?  :roflmao:

    • Haha 2

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    VW is owned by Lower Saxony, a German Lander (similar to that of a province or a US state).  VW will not be allowed to die.  Daimler or BMW are far more likely to disappear since those two automakers are not owned by a state government.

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