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 […]

Volkswagen terminates Audi CEO’s contract amid emissions investigation

Volkswagen logo

Volkswagen has terminated Audi CEO Rupert Stadler’s contract against the backdrop of a criminal probe into whether he participated in emissions cheating by the German group. Munich prosecutors are probing Stadler and another member of Audi’s senior management for alleged fraud and misleading advertising associated to illegal emissions by its cars and manipulation of automobile […]

Volkswagen may seek damages from ex-CEO Winterkorn over scandal

Former Volkswagen CEO Martin Winterkorn

Volkswagen is checking whether to seek damages from former Chief Executive Martin Winterkorn, who was a CEO of the automaker when it became known that the automaker had cheated on emissions tests, supervisory board member Stephan Weil informed a newspaper. “Damages against former management board members are under serious consideration, I’m not just stating that,” […]

Volkswagen names Bram Schot as interim Audi CEO

Images of 2017 Audi R8 V10 Spyder

Bram Schot has been nominated by Volkswagen’s supervisory board as interim chief executive at its luxury brand Audi after the arrest of Rupert Stadler, Germany’s Sueddeutsche Zeitung stated on Monday, without mentioning sources. Since Audi is a division of Volkswagen, the Audi’s supervisory board has yet to sign off on the nomination, Sueddeutsche stated. A […]