Diesel software updates will cost Volkswagen, Daimler, BMW 500 million euros in Germany

Volkswagen, Daimler and BMW are dealing with expenses of a minimum of 500 million euros ($593 million) to update the engine software of diesel automobiles in Germany to suppress emissions, the VDA automobile market lobby stated.

Furthermore, the expenses of paying car owners rewards for trading in their older diesel vehicles for new models will far go beyond 500 million euros for the three automakers, VDA President Matthias Wissmann stated on Wednesday at a press conference.