Volkswagen Group Increases Provision Charge by €2.5 billion for North America Settlement
Volkswagen Group will increase provision charge by €2.5 billion for the buyback & retrofit program for 2.0l TDI vehicles. The charge is part of the settlements in North America for using illegal software to cheat U.S. diesel emissions tests, known as the “Dieselgate” scandal, which the group admitted in September 2015.
” Volkswagen Group will increase provision charge by €2.5 billion for North America Settlement “
The settlement had proven to be far more technically complex and time consuming. The complete interim report of the Volkswagen Group for the period January-September 2017 will be published on 27th October 2017.
About Volkswagen Group
The Group comprises twelve brands from seven European countries: Volkswagen Passenger Cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN. In addition, the Volkswagen Group offers a wide range of financial services, including dealer and customer financing, leasing, banking and insurance activities, and fleet management.
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