Volkswagen's Dieselgate Costs Have Risen To $30 Billion So Far

Volkswagen is taking another $3 billion charge to fix diesel engines in the United States, lifting the total bill for its emissions-test cheating scandal to around $30 billion (22.43 billion pounds).

The German group is struggling to put the two-year-old “Dieselgate” scandal behind it, and working to transform itself into a maker of mass-market electric cars.

On Thursday, Munich prosecutors said they had arrested a former Porsche management board member, the first top executive within the group to be detained amid a widening probe into cheating at VW’s Audi brand.

Read Article

carloslassiter - 9/29/2017 2:37:06 PM

-7 Boost

And yet the geniuses who post here only criticize Tesla.

CANADIANCOMMENTS - 9/29/2017 8:37:45 PM

-6 Boost

You can't fix stupid. Tight fitting red #MAGA hats are the culprit I think. Just feel sorry for them and move on. As for VW, $30B, $50B, $60B in diesel gate fines, who knows where it will end. Mind you I read Honda is walking around with $100B in debt on their balance sheet. You won't pay it off by not making cars. So keep calm and the production lines on....

TomM - 9/30/2017 7:51:50 AM

+1 Boost

Actually Honda does have debt - but no where near 100Billion US dollars -maybe you were thinking of their recent move to raise 100Billion YEN - which is 900 Million US dollars.

PUGPROUD - 9/29/2017 3:08:10 PM

+1 Boost

Total cost likely to be $50-$60 billion. These types of lawsuits have long tails and long lives.

MDarringer - 9/29/2017 6:26:24 PM

+2 Boost

The thing that amazes me is they $30B and VW is still feeling no real financial hit. Everything is business as usual.

skytop - 9/29/2017 11:45:44 PM

0 Boost

Imagine the wealth of VW to be able to unexpectedly pay out $30 to 50 billion dollars to pay for their lawless chicanery.

What corporaton could survive after making such unimaginable enormous compensatory payments for its lawlessness and guile.

mpls - 9/30/2017 2:59:22 AM

0 Boost

Fraud ? or getting helpp from the German state or silently federal EUrope of Germany ?

qwertyfla - 9/30/2017 8:50:14 AM

0 Boost

Not enough pain. This doesn't even cover the diminished resale values of non diesel VW products that the consumers will have to swallow which would far surpass $30B.

For once I will be cheer leading all the class action lawsuits as VW seriously fucked up and deserves to pay big time and be the poster-boy/deterrent for corporate fraudulent shenanigans.