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Audi Offices Raided in German Probe of Diesel Cheating Scandal
German prosecutors raided several Audi AG facilities earlier today as part of an investigation into Audi’s role in Volkswagen AG’s use of illegal software to evade diesel emission standards.
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German prosecutors raided several Audi AG facilities earlier today as part of an investigation into Audi’s role in Volkswagen AG’s use of illegal software to evade diesel emission standards.
Prosecutors are looking for evidence to clarify who was involved with deploying the software in Audi-developed 3.0-liter V-6 diesels, Reuters reports. The news services says the sweep targeted VW headquarters in Wolfsburg, Audi assembly plants in Ingolstadt and Neckarsulm and several private apartments.
The raids coincided with Audi’s annual press conference today, in which the company offered its outlook for 2017. The company says its vehicle deliveries last year rose 4% to a record 1.87 million units, and revenue grew 2% to €59.3 billion ($63.1 billion).
But pretax profits plunged 42% to €3 billion ($3.2 billion), mainly because of €1.6 billion set aside to cover diesel claims in the U.S. Audi says its cash flow this year will be positive but sharply lower than in 2016 because of the diesel cheating scandal.
CEO Rupert Stadler has been criticized for his handling of Audi’s role in resolving the scandal. But he tells reporters he has supported the investigation all along, declaring that "we will keep at it until this work is done.”
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