Volkswagen diesel scandal cleanup to cost 2 billion euro in 2019

by SpeedLux
Volkswagen logo

Volkswagen’s cleanup of a diesel cheating scandal is going to cost it 5.5 billion euros ($6.25 bln) in 2018 and about 2 billion euros in 2019, Chief Financial Officer Frank Witter informed German weekly Boersen-Zeitung.

Since 2015, the German automaking group has paid over 27 billion euros to settle investor and consumer lawsuits together with regulatory fines and remedies tied to resolving excessive emissions levels in its diesel vehicles.

In 2020 Volkswagen Group will see expenses of about 1 billion euros associated to emissions cheating, Witter informed the paper.

Volkswagen is sticking to strategies for listing its trucks business in next year and continues to see potential for growth in China, the world’s largest car market, Witter stated.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More