You are here: Home » International » News » Companies
Business Standard

VW's dieselgate bill hits $30 billion after another charge

Shares in the German carmaker fell as much as 3% on Friday

Reuters  |  Hamburg | Berlin 

Volkswagen (VW) is taking another $3 billion charge to fix diesel engines in the United States, lifting the total bill for its emissions test cheating scandal to around $30 billion. Shares in the German carmaker fell as much as 3 percent on Friday, as traders and analysts expressed dismay the company was still booking charges two years after the scandal broke. "This is yet another unexpected and unwelcome announcement from VW, not only from an earnings and cash flow perspective but also with respect to the credibility of management," said Evercore ISI analyst Arndt ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, September 29 2017. 17:43 IST