Another €2.5b for Volkswagen’s Dieselgate costs
German car-maker’s cheating scandal costs rise to €30 billionTrickier fixes and extra buybacks have forced the Volkswagen Group to add another €2.5 billion to the red-ink tally in the Dieselgate cheating scandal’s column.
The car-maker warned today that it would set aside the extra billions to cover buybacks and unanticipated complications in repairing some of the cars, especially in the United States.
The admission comes a day after prosecutors took the Group’s former head of powertrain development, Wolfgang Hatz, in for questioning in Munich over the Dieselgate scandal.
Dieselgate, which broke in September, 2015, has so far cost the company more than €27 billion in fines, compensation and repair costs, after it used software on its diesel engines that cheated on NOx emissions, only emitting the correct levels under laboratory conditions.
It continues to shadow the company two years later, sidestepping Volkswagen’s continued attempts to draw a black line beneath it and move forward.
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