VW Dieselgate’s Total Bill Is Now Approaching $30 Billion

VW has to spend another $3 billion to fix its rigged diesel vehicles in the United States, lifting the total Dieselgate bill to around $30 billion.

It’s been two years since the Dieselgate scandal first broke out but VW can’t seem to put it behind it and focus instead on transforming itself into a mass-producer of electric cars.

VW said it was setting aside an extra $3 billion as hardware fixes for the models affected by the emissions scandal were proving tougher than expected and would require more time for them to fix them, Reuters reports.

VW shares fell as much as 3 percent on Friday, as traders and analysts expressed their dismay that the German car maker was still setting aside money for the emissions scandal.

An analyst from Evercore ISI said that the news were unexpected and unwelcome, “not only from an earnings and cash flow perspective but also with respect to the credibility of management”.

PHOTO GALLERY

  • GobbleUp

    Good. Should force them to bankruptcy as payback. Will never buy their cars. F off.

    • Bash

      What about their EVs?, some of their future cars and concepts looks interesting and very cool.

    • Belthronding Tinuviel

      And how it’s disturbing me their top management seems totally f relax and saying that they have no idea about damned hardware.
      People are still buying VWs,what is wrong with all these people,i have no word.

  • Six_Tymes

    thats all?

  • LWOAP

    They didn’t learn a thing from this. VW will just pay whatever cost is associated with this and then move on as if nothing happened. I would not be surprised if they try this again.

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