The exhaust gas scandal continues to cost Volkswagen dearly. For the coming years, the Group expects further billions in costs.
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VW logo on car in Wolfsburg
Saturday, 22.12.2018
16:41 clock
Volkswagen has to spend 5.5 billion euros for consequences of the diesel scandal this year, according to Financial Director Frank Wittwer. “In the coming year, we expect a sum of about two billion euros, by 2020 it should still be around one billion euros,” said Wittwer the “Börsen-Zeitung” from Saturday.
Since 2015, the car company has paid over 27 billion euros because of the diesel scandal. The sum includes fines, compensation for investors and customers as well as technical upgrades to reduce the emission levels of the vehicles.
According to Wittwer, Volkswagen must continue to work hard to regain confidence, which has also been lost in the financial markets. The demand for bonds is high. But the company still had to pay investors an interest premium that was related to the scandal.