VW emissions scandal: VW doubles expenses provisions to 16.2 billion

Tuesday, May 17th, 2016 - Automotive, cars, motoring, news

Source : VW emissions scandal: VW doubles expenses provisions to 16.2 billion

Volkswagen Volkswagen doubled allocated to cover emissions money scandal, after the settlement of the United States, along with the increased pressure to compensate more customers

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Volkswagen increased the amount of money of which This specific deems necessary to cover expenses coming from their experiences fixing scandal diesel emissions of 9.5 billion € (7.2 £ billion) to 16.2 billion € (12.2 £ billion), according to the chairman Matthias Mueller.

comes This specific increase, announced during a press conference in Wolfsburg on Friday, after the motor of the German shareholder industry reported late last year of which This specific was allocated a few billion 6700000000 € (£) for potential costs, including the overwhelming call of fuel oil Volkswagen products.

along with more than doubling the financial allocations for diesel emissions test manipulation scandal prompted Volkswagen to loss before tax of 1.3 billion € (£ 1000000000) in 2015 – the largest loss inside company’s history. , 2014.

, along with chief financial officer of the company Volkswagen, Frank Witter of which compares which has a profit before tax of € 14.7 billion inside previous year of which the case emissions dominate This specific year the company’s agenda.

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Volkswagen along with said he expected sales across the group, which includes Audi , Bentley , Bugatti , Lamborghini , seat along with Skoda , to decline by up to a few per cent in 2016.

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