VW says diesel scandal cleanup to cost 2 billion euro in 2019: paper By Reuters

FRANKFURT (Reuters) – Volkswagen’s (DE:) cleanup of a diesel dishonest scandal will cost it 5.5 billion euros ($6.25 bln) in 2018 and round 2 billion euros in 2019, Chief Financial Officer Frank Witter advised German weekly Boersen-Zeitung.

Since 2015, the German automotive making group has paid greater than 27 billion euros to settle investor and client lawsuits in addition to regulatory fines and cures tied to resolving extreme emissions ranges in its diesel automobiles.

In 2020 Volkswagen Group will see prices of about 1 billion euros associated to emissions dishonest, Witter advised the paper.

VW is sticking to plans for itemizing its vehicles enterprise in 2019 and continues to see progress potential in China, the world’s largest automotive market, Witter mentioned.

($1 = 0.8797 euros)

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