Volkswagen sets aside 5.5 billion euros to deal with diesel scandal

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Volkswagen stated it has set aside 5.5 billion euros ($6.16 billion) in contingent liabilities to cover possible dangers emerging from a diesel cheating scandal, chief financial officer Frank Witter stated on Thursday. With the release of quarterly revenues on Thursday Volkswagen revealed it had set aside 1 billion euros in risk provisions to assist in […]

Investors sue Porsche SE due to Volkswagen scandal

Porsche SE, the main investor of Volkswagen, is dealing with lawsuits from investors asserting the company did not divulge the financial dangers of Volkswagen’s emissions scandal discovered a year back. A representative at Porsche SE stated on Tuesday Frankfurt-based law firm Nieding + Barth had actually submitted 12 lawsuits against the company which controls 52.2 […]

U.S., California regulators reject Volkswagen’s proposed fix for diesel cars

U.S. and California regulators have actually declined Volkswagen‘s suggested fix for a lot of the vehicles associated with its emissions scandal, dealing an additional problem to the German car manufacturer as it tries to clean the diesel crisis. The Epa and California Air Resources Board (CARB), known as CARB which jointly revealed the Volkswagen infractions– […]

Volkswagen states CO2 cheats affect further petrol engines than disclosed before

Volkswagen handled the carbon dioxide (CO2) emission levels of extra petrol-powered autos than disclosed last time, according to a spokesman on Monday. Volkswagen stated on Nov. 3 it had underestimated the level of CO2 emissions concerning 800,000 cars that were mainly sold in Europe, and consequently their fuel consumption. It stated then the cheating affected […]

Due to Volkswagen’s emissions scandal Porsche will stop selling one of its best-selling SUVs

Due to VW's emissions scandal Porsche will stop selling one of its best-selling SUVs

Porsche, one of the carmakers captured in the middle of Volkswagen’s ongoing emissions scandal has recently released a stop-sale order on one of its most preferred models, called Cayenne Diesel SUV. The SUV showcases the 3.0-liter V6 TDI engine named in the Epa’s increased allegations against Volkswagen. Those allegations assert that Volkswagen’s 2.0-liter TDI engine […]

What Volkswagen actually did

Volkswagen is dealing with substantial penalties, its credibility is in scraps, and also CEO Martin Winterkorn seemed to have stepped down. The business just taped its very first quarter-on-quarter loss in 15 years. The loss runs to $3.84 billion, even worse compared to the expect $3.60 billion loss. As per the Reuters report, the automaker […]

Volkswagen execute blames ‘a couple of’ rogue engineers for scandal

Top Volkswagen executive on Thursday blamed a handful of rogue software engineers for the business’s emissions-test cheating scandal and told outraged lawmakers that it would take years to repair the majority of the nearly half million cars impacted in the U.S. “This was a couple of software engineers who put this in for whatever reason,” […]

Volkswagen sets aside $7.3 billion, 11 Million Diesels Had Cheating Software

The situation wrapping up Volkswagen AG, the world’s top-selling carmaker, intensified Tuesday as the business provided a revenue caution adhering to a spectacular admission that some 11 million of its diesel motor vehicles around the world were suited with software application at the facility of a United States emission scandal. The German firm claimed it […]