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VW Could Face Further Fines

VW Could Face Further FinesVW Could Face Further Fines

Volkswagen could face additional fines in Munich and Stuttgart on top of the €1 billion ($1.2 billion) it has been told to pay for management lapses which caused emissions cheating on 11 million VW diesel cars. Prosecutors in the German town of Braunschweig used a so-called administrative order to fine Volkswagen for oversight problems which allowed millions of polluting VW cars to hit the road, Reuters reported. The fine is one of the biggest ever penalties imposed by German authorities against a company. It deals yet another blow to one of Germany’s big industries which is struggling to recover from the fallout from the emissions cheating scandal that broke in Sept. 2015. The one billion euro fine is not included in the €25.8 billion ($30 billion) that Europe’s biggest carmaker has set aside to cover costs related to its admission that it cheated US diesel emissions tests, and it will hit earnings.

 

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