Dieselgate cost Volkswagen 30 billion eurosMay 3, 2019
The consequences of the biggest scandal in the automotive market continue to affect the German concern. In the first quarter of 2019 alone, VAG Group spent about 1 billion euros on legal expenses.
On Thursday, May 2, the Volkswagen Group published a financial report for the first quarter of 2019. Judging from the information provided, the diesel scandal still plays a large role in the company’s expenses. At the moment, losses amounted to about 30 billion euros, and the first three months of 2019 ended up spending 1 billion euros only on legal expenses.
According to VW’s financial director, Frank Witter, most of the costs were payments to settle disputes in North America over the scandal.
It all started in 2015, when the fact of the machinations of VW with diesel cars and their environmental friendliness was revealed. A special software was installed in the electronic control unit of the engine, which made it possible to pass tests for environmental friendliness, but in real conditions used other settings. In America, 482,000 Volkswagen and Audi vehicles were recalled.
About 60,000 lawsuits against Volkswagen are currently underway in Germany.
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