Volkswagen expects 4.1 billion euros more in diesel-related costs by 2021

Volkswagen was caught hiding excessive levels of toxic diesel emissions in 2015.
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| Updated on: 17 Mar 2020, 04:30 PM
File photo (Bloomberg)
File photo (Bloomberg)

Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 billion) in fines and settlements, and the German car maker expects costs to rise by another 4.1 billion euros, Chief Financial Officer Frank Witter said on Tuesday.

Volkswagen was caught hiding excessive levels of toxic diesel emissions in 2015, a scandal that led to a management rout and thousands of regulatory probes and lawsuits which are taking years to settle.

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"We expect special effects of 2.9 billion euros in 2020 and 1.2 billion euros in 2021," Witter said on a webcast of the company's annual results press conference.

First Published Date: 17 Mar 2020, 04:30 PM IST
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