Published: Wed, October 17, 2018
Money | By Ralph Mccoy

Volkswagen Fined $926 Million by German Courts for Diesel Emissions Scandal

Volkswagen Fined $926 Million by German Courts for Diesel Emissions Scandal

The emissions scandal impacted up to 11 million vehicles sold across Europe and the U.S.

German premium auto brand Audi, a division of Volkswagen (VOWG_p.DE), said it was fined 800 million euros ($927 million) on Tuesday for violations tied to heavily polluting six- and eight-cylinder diesel engines.

In a statement, Volkswagen said Audi had agreed to pay an 800-million-euro (R13.6bn) fine issued by Munich prosecutors.

Software allowed vehicles to appear to meet emissions rules under lab conditions, while in fact spewing many times more harmful gases like nitrogen oxides (NOx) on the road. A Volkswagen Group release noted the fine would impact its fincial targets for the 2018 financial year.

While the VW group has admitted 1.2 million vehicles were affected in the United Kingdom, it has refused similar payouts to owners on the grounds no European Union law was broken through the use of the software.

The penalty comes on top of total costs in fines, recalls, refits and buybacks of over €27 billion that the parent Volkswagen had to pay out over the dieselgate scandal.

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Investigators pursued Audi over V6 and V8 engines it built into its own vehicles, VW's own-brand cars and models from fellow subsidiary Porsche, as well as over Audi vehicles fitted with cheating VW-built motors.

Earlier this month, Volkswagen terminated the contract of Audi Chief Executive Rupert Stadler, who is under investigation for suspected involvement in emissions cheating.

Despite Tuesday's agreement, other probes against individual managers and executives from the VW group remain open.

Audi accepted the fine and will not lodge an appeal against it, the company said in a statement.

Prosecutors said the failure of proper corporate oversight by Audi AG enabled deliberate wrongdoing by individuals.

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