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VW Says Diesel Scandal Will Cost Another €4 Billion in 2018
Volkswagen AG—which so far has paid nearly €30 billion in penalties, repairs and restitution in its two-year-old diesel emission cheating scandal—estimates next year’s cost will drop to €4 billion-€5 billion ($4.7 billion-$5.9 billion).
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Volkswagen AG—which so far has paid nearly €30 billion in penalties, repairs and restitution in its two-year-old diesel emission cheating scandal—estimates next year’s cost will drop to €4 billion-€5 billion ($4.7 billion-$5.9 billion).
VW will pay out about €17 billion ($20 billion) in 2017. Still, Chief Financial Officer Frank Witter tells reporters he is “not at all relaxed” about the status of the scandal.
Witter did not explain the reason for the declining payout. But over the past few months the company has settled several outstanding diesel-related legal issues in the U.S., where the heaviest penalties have occurred.
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