The US might have vented emissions fines into the atmosphere, but the European Union has not. Some automakers are struggling to meet the latest carbon emissions requirements in Europe, and Volkswagen is one of them. That has put the company in a tricky spot that could cost it nearly $2 billion over the next three years. After that, it could get even worse.
Last week on the company's first-quarter earnings call, Volkswagen Group CFO & COO Arno Antlitz spoke about the problems the company is experiencing. He said that reduced CO2 emissions allowances in the EU were adding 400 million-500 million euros ($475-575 million) per year to the company's expenses.
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