VW Knew About Dieselgate Fallout A Month Before Telling Investors

According to a new report, Volkswagen executives were told about the potential financial costs of its diesel emissions cheating a full month before investors were informed.

German newspaper Bild am Sonntag says that VW executive Oliver Schmidt revealed to then chief executive Martin Winterkorn, and others, about the possible financial implications of the cheating on August 25, 2015, indicating costs could reach as high as $18.5 billion.

According to German securities law, companies must inform investors about market sensitive information in a timely fashion, and it wasn’t until September 18, 2015 when the U.S. Environmental Protection Agency publicized the cheating scandal that Volkswagen decided it was time to tell investors.

Autoblog reports that the German conglomerate admitted to using a defeat device to the EPA on September 3, 2015, and chose not to inform investors earlier because board members allegedly thought costs would be “controllable overall with a view to the business activities of Volkswagen Group.”


  • Six_Tymes

    not surprised.

  • fabri99

    That is…not good.

  • Zed68


  • Enter Ranting

    Volkswagen – never again…

1967 Honda S800 Is The S2000’s Grandfather, Revs To 10,000 RPM

You could buy this mint S800 for about the cost of a new Ford Fiesta in the UK.

New Red Bull Racing Signing Pierre Gasly Finds 2019 Car A Tough Nut To Crack

RBR team boss Christian Horner says Gasly must refine his driving style to get the best out of his ride.

You Know You Want This 10K-Mile 1994 Supra Turbo – But Can You Afford It?

This twin-turbo Supra seems to be in all original, and pretty fine, condition, but it has a six-figure price tag.

Modern Take On Iconic Mercedes-Benz CLK GTR Looks Absolutely Spot-On

If the Mercedes-Benz CLK GTR and AMG One had a baby, it could look like this.

Aston Martin Vantage V12 Zagato Is Back, Gains Gorgeous Speedster Variant

Only 38 units of the resurrected Vantage V12 Zagato will be made: 19 Coupés and 19 Speedsters.

This Mercedes Driver In New Jersey Parked On Top Of A Toyota

According to the Maywood Police Department, the Merc driver pressed the gas pedal instead of the brake.

Strange Rover: Honda Element Owner Loves British Luxury SUV’s… Badges

This boxy Honda SUV gets some original logos, funny-looking dual exhausts – and that’s all.

Today’s AI Quiz: Do Robot Dogs Dream Of Hauling Box Trucks?

Apparently, Boston Dynamics’ SpotMini robots are looking to steal jobs from sled dogs too.

Dodge Challenger Gets Acquainted With The Liberty Walk Ethos

Wide body kits are Liberty Walk’s specialty, and this one seems to suit the Challenged just fine.

Fancy A “Cheap” Rolls-Royce? This Phantom Drophead Coupe Might Be The One

The highest bid for this one-owner Phantom Drophead Coupe currently sits at under $100k.