Audi fined for 800 million euros for diesel violations

New Audi A8 images from Barcelona, July 2017

German premium car brand Audi, a division of Volkswagen, stated it was fined 800 million euros ($927 million) on Tuesday for violations associated with heavily polluting six- and eight-cylinder diesel engines.

“Considering these special items the Audi Group will largely undercut major financial key performance indicators forecasted for the fiscal year 2018,” Audi stated in a regulatory statement.

Parent Volkswagen cautioned its revenues would also be affected.

Audi accepts the fine and will not file an appeal against it, the company stated. By doing so, it said it accepts its responsibility for the deviations from regulatory requirements.

Previously this month, Volkswagen terminated the contract of Audi Chief Executive Rupert Stadler, who is currently going through investigation for suspected involvement in emissions cheating. Sales executive Bram Schot is currently acting as interim CEO.

Volkswagen Group received a similar 1 billion euro fine in June after prosecutors in Braunschweig also used a so-called administrative order to fine Volkswagen for oversight problems which permitted millions of polluting cars to hit the road.

Volkswagen was fined for making and selling polluting four cylinder engines, while prosecutors in Munich at the time stated they were investigating if they should impose similar fines on Audi.

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