GoAutoLogo
MENU

News - Volkswagen

Dieselgate: Volkswagen AG cops $1.56 billion fine

Big dollars: According to Reuters, Volkswagen AG has set aside a €25.8 billion ($A40.23 billion) provision for the ramifications of dieselgate.

German public prosecutor hands Volkswagen AG eight-figure fine over dieselgate

Volkswagen logo14 Jun 2018

- Volkswagen AG has been handed a €1 billion ($A1.56 billion) fine from the public prosecutor in Braunschweig, Germany, for its involvement in the ‘dieselgate’ diesel emissions cheating saga.
 
- Claimed to be one of the largest financial penalties imposed by German authorities against a company, the fine consists of the maximum €5 million penalty permissible for a regulatory offence, plus €995 million for the economic benefits gained as a result of the cheating.
 
 

Click here for full story: Dieselgate: Volkswagen AG cops $1.56 billion fine


Read more

Click to share

Click below to follow us on
Facebook  Twitter  Instagram

Volkswagen articles

Motor industry news

GoAutoNews is Australia’s number one automotive industry journal covering the latest news, future and new model releases, market trends, industry personnel movements, and international events.