Volkswagen to withdraw from U.S. diesel market - Handelsblatt

Image
Reuters
Last Updated : Nov 23 2016 | 1:22 AM IST

(Reuters) - Volkswagen AG's diesel vehicles would not make a return to the U.S. market after the emissions scandal is settled, German daily Handelsblatt reported, citing the automaker's car division chief, Herbert Diess. (http://bit.ly/2fo824J)

Europe's largest carmaker in September 2015 admitted using sophisticated secret software in its cars to cheat exhaust emissions tests, with millions of vehicles worldwide affected.

The cheating allowed Volkswagen's U.S. vehicles sold since 2009 to emit up to 40 times legally allowable pollution levels.

The German automaker will pay more than $15 billion to settle claims by nearly 500,000 U.S. customers and government regulators over the emissions scandal.

(Reporting by Divya Grover in Bengaluru; Editing by Maju Samuel)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Nov 23 2016 | 1:03 AM IST

Next Story