VW fined 1 billion euros by Germany for diesel emissions cheating

21 June 2018 - Autoblog

VW fined 1 billion euros by Germany for diesel emissions cheating

This on top of the $4.3 billion fine in the U.S.

The German fine follows a U.S. plea agreement from January 2017 when VW agreed to pay $4.3 billion to resolve criminal and civil penalties for installing illegal software in diesel engines to cheat strict U.S. anti-pollution tests.

"Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it. Volkswagen AG, by doing so, admits its responsibility for the diesel crisis and considers this as a further major step toward the latter being overcome," it said in a statement.

The prosecutor's office in Braunschweig ordered the fine against the carmaker for organizational deficiencies in supervision which failed to prevent "impermissible software functions" from being installed in 10.7 million cars between 2007 and 2015.

"The Prosecutor's Office in Braunschweig ascertained a violation of supervisory duties," the prosecutor's office said in a statement, adding that the fine did not address civil claims or claims by vehicle owners.

The 1 billion fine does however end regulatory offence proceedings against Volkswagen, which the Wolfsburg-based carmaker said it assumed would help to settle further administrative proceedings against VW in Europe.

Analysts at Evercore ISI said this fine would likely help end all criminal investigations against VW in Europe, but would not settle shareholder lawsuits.

The new fine was not included in 28.5 billion euros of provisions that VW set aside for the diesel cheating scandal, and would hit earnings, Evercore ISI said.

Volkswagen said it held a board meeting to discuss the crisis with members of the supervisory board also being informed.

Volkswagen's new Chief Executive Herbert Diess said further steps were needed by the company to overcome its diesel cheating scandal and to restore trust in the company.

The fine by Braunschweig comes after prosecutors in Munich on Monday widened an emissions cheating probe into Volkswagen's luxury carmaker Audi to include the brand's Chief Executive Rupert Stadler among the suspects accused of fraud and false advertising.

News By Tags

a1ACEAalfaalfa romeoAlfa Romeo 4CAlfa Romeo GiuliaAlfa Romeo StelvioAlfa Romeo TonaleAlpinaalpinealpine a110amazonAston MartinaudiAudi A3Audi E-tronAudi Q5Audi R8Audi RS3Audi Rs5Audi RS6Audi SQ8AustraliaAustrijaautiautobusautocestaautocesteautoindustrijaautomobilautomobiliautomobilska industrijaAutopilotautoškolaBentleybenzinbikebikesBjelovarbmwBMW 3 seriesBMW 4 SeriesBMW 5 SeriesBMW 7 SeriesBMW 8 SeriesBMW i3BMW i4BMW ix3BMW M2BMW m3BMW M4BMW M5BMW X3BMW X7boatboatsBosna i HercegovinabrabusbrzinaBugattiburacampercamper vancar buying guideCentar za vozila HrvatskecestacestarinacesteChryslercijenacijenecitroenCItroen BerlingoCitroen C3citroen c4classicscrash testcrossoverCustom carCVHdaciaDacia DusterDacia SanderodaimlerDalmacijaDetroit Auto ShowdieselDiesel bandiesel scandaldieselgateDizeldizelašidrag raceDucatiDugopoljeDysonelectricelektrična vozilaelektrični automobilelektrični automobiliEUeuropeEuropska komisijaeuropska unijaevFCAferrarifiatFiat TipoFiskerfordFord F-150Ford FiestaFord FocusFord MustangFord PumaFord RangerFord TransitFrankfurt Motor ShowfunnygenesisGeneva Motor ShowgermanygliserGMgorivoGrand TourgranicagumegužvehacHAKHarley-DavidsonHoldenhondahow toHrvatskaHrvatske autocesteHrvatske cestehybridhydrogenhyundaiHyundai i20Hyundai KonaHyundai Santa FeHyundai TucsonIgor NešićistraživanjejaguarjeepJeep WranglerJeremy ClarksonkamerekamionKaznakazneKiaKia SorentoKia SportageKia StingerkoenigseggkoronakrizakoronavirusKTMkupnjalamborghiniLamborghini Uruslancialand roverLand Rover DefenderLexusmarin kameničkiMaseratiMate RimacmazdaMazda CX-30mclarenmercedesMercedes SprinterMercedes X-Classmilan bandićmitsubishiMitsubishi OutlanderMotociklimotorcyclemotorsportMUPnesrećaNikolanissanNissan ArmadaNissan LeafNissan NavaraNissan QashqaiNissan TitanNjemačkanovi automobiliNovskaOff-roadoffroadOleg ButkovićopelOpel AstraOpel ComboOpel CorsaosiguranjeOsijekParis Motor ShowparkiranjePDVpeugeotpeugeot 2008peugeot 208Peugeot 3008Peugeot 308Peugeot 5008Peugeot 508pickuppolandPolestarpolicijapolovni automobiliporezporeziporschePorsche 911porsche panameraPorsche TaycanposkupljenjepotrespožarprekršajiprodajaProdaja automobilaprodajni saloniprometprometnaprometna dozvolaprometna nesrećaPrometne kazneprometne nesrećePSAPularabljenirabljeni autirabljeni automobilRabljeni automobiliradoviramrecallrecreational vehiclerecreational vehiclesregistracijaRemetinečki rotorrenaultRenault ClioRenault DusterRenault KadjarRenault MeganeRenault TwingoRenault Zoerent a carRichard HammondRijekarimacrimac automobiliRimac C_TwoRimac NeveraRivianRivian R1romeorotorRVsafetyScaniaSeatSeat Leonself-driving carservisŠibenikskodaSkoda EnyaqSkoda ENYAQ iVSkoda KaroqSkoda KodiaqSkoda OctaviaSkoda ScalaSlavonski BrodSljemeSlovakiaSlovenijasmartSplitspy shotsSrbijastarost vozilaStellantissubarusudarsupercarssuvSuzukitechnologytehnički pregledteslaTesla Model 3testtest rabljenogtoyotaToyota SupraToyota TacomaToyota YaristrajekttrošarinatrošarinetrucktržišteTržište automobilatuningtvornicaukUmagunos automobilaUSAused car buying guidevanVaraždinVelika BritanijaVelika GoricaVolkswagenVolkswagen ArteonVolkswagen CaddyVolkswagen GolfVolkswagen ID.4Volkswagen PassatVolkswagen Tiguanvolvovozačivozačka dozvolavozački ispitvozilaVOZNI PARKvožnjavwVW ArteonVW Atlasvw beetleVW GolfVW Golf VIIIvw jettaVW PoloVW T-CrossVW T-RocYachtYamahayugoZadarZagrebZagreb Auto Showzakonzakon o sigurnosti prometa na cestamazastavazimske gume