Despite the immense financial and technical resources required by Volkswagen to sort out its ongoing emissions discrepancies, the German car maker claims that the costs are manageable, and won’t bankrupt the company any time soon.
In a speech delivered to managers at the Group’s headquarters, Drive quoted Volkswagen’s CEO, Matthias Muller to say that, “the efforts (needed) to carry out the refits are technically, mechanically and financially manageable. This is a good development.”
As recently reported, some 8.5 million cars in Europe alone will need to be recalled for a hardware and software fix, while another 75,000 vehicles belonging to the Volkswagen Group in the US will also require a solution beyond the handing out of cash cards to customers.
According to Drive, analysts have amounted the total costs faced the Volkswagen Group for its diesel emissions issues to be in the region of 40 billion euros (RM180 billion), taking into account existing and potential fines, lawsuits and vehicle refits.
The Australian website also reported that Audi USA had separately announced that a “mid-level double-digit million euro” sum was required to reconfigure its 3.0 litre V6 TDI-powered cars. Currently, the affected models are known to produce illegal levels of CO2 emissions in the country.
Thus far, the Volkswagen Group has also lost several key executives and has since realigned its priorities towards regaining the trust and confidence of customers after losing the top spot in global vehicle sales to Toyota.
Looking to sell your car? Sell it with Carro.
yes, little worries for VAG with its strong financial foundation – i must say.
same goes to VAG’s subsidiary VGM. also strong.
They are a major GLC of Germany, just like Proton here but much more influential. No way Germany is going to let VW fall.
Chain your previous CEO martin winterkorn that conman
they have billions & billions of monies hidden somewhere in Switzerland… no worries then.
With their biillion dollars of assets in VAG …y need to hide it like “Najis”!!!