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  • William Maley
    William Maley

    Volkswagen Gets Fined A Billion Euros By the German Government

      Another day, another fine

    We're coming up on three years since the Volkswagen diesel scandal came to light. It caused the German automaker to spiral downward with various fines, lawsuits, people either stepping down or being arrested, and sales tanking. By now, you would think that the pain is done and over. But you would be wrong.

    Reuters reports today that prosecutors in Germany have fined Volkswagen a billion euros ($1.18 billion) over diesel emission cheating. In a statement, Volkswagen will accept the fine, therefore admitting responsibility for the cheating.

    "Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it. Volkswagen AG, by doing so, admits its responsibility for the diesel crisis and considers this as a further major step towards the latter being overcome," the company said.

    By accepting the fine, Volkswagen hopes "the active regulatory offence proceedings" being conducted will come to an end. It will unlikely end the various criminal cases that German prosecutors are working on against various Volkswagen executives.

    Source: Reuters

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    VW has crazy cash, so this isn't even going to hurt them all that much, but I think no car maker will make diesel anymore because of stuff like this.  It isn't worth it.

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