VW emissions scandal: VW sets aside 12.2 billion for fines

Friday, May 20th, 2016 - Automotive, cars, motoring, news

Source : VW emissions scandal: VW sets aside 12.2 billion for fines

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

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Volkswagen increased the amount of money in which in which deems necessary to cover expenses through 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 in which increase, announced during a press conference in Wolfsburg on Friday, after the motor of the German shareholder industry reported late last year in which in which was allocated all 5 billion 6700000000 € (£) for potential costs, including the overwhelming call of fuel oil Volkswagen products.

announced

Volkswagen also in which he might not, as promised earlier, to meet deadlines within the official report dieselgate By the end of April. He said the law firm Jones Day expects the completion of the investigation by the fourth quarter. He added in which the disclosure of interim results to report at in which stage “might prevent unacceptable risks for Volkswagen, in addition to therefore, can not happen today.”

in addition to 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 within the company’s history. , 2014.

, in addition to chief financial officer of the company Volkswagen, Frank Witter in which compares that has a profit before tax of € 14.7 billion within the previous year in which the case emissions dominate in which year the company’s agenda.

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Volkswagen in addition to said he expected sales across the group, which includes Audi , Bentley , Bugatti , Lamborghini , seat in addition to Skoda , to decline by up to all 5 per cent in 2016.

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