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.
