12/24/2018

VW Spending to Fix Diesel Cheating Tops €27 Billion

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Volkswagen Group has spent more than €27 billion ($30.8 billion) in the past four years to remedy 11 million diesels it had rigged worldwide to evade emission standards worldwide.

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Volkswagen Group has spent more than €27 billion ($30.8 billion) in the past four years to remedy 11 million diesels it had rigged worldwide to evade emission standards worldwide.

More than 80% of the total has been spent in the U.S. to fix or buy back 555,000 4- and 6-cylinder diesels, pay fines, settle lawsuits and fund remediation programs.

VW tells Germany’s Boersen-Zeitung that the company’s spending this year on such costs worldwide totaled €5.5 billion ($6.3 billion). Similar emission-cheating costs are expected to shrink to €2 billion ($2.3 billion) in 2019 and €1 billion in 2020.