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Volkswagen: CO2 emissions problem far smaller than suspected

The company said it found “slight deviations” in just 36,000 vehicles.

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On Wednesday, however, it said that further internal investigations found that in most cases the vehicles actually conformed to the stated emissions levels.

“Only a small number of the model variants of new cars will have the catalogue (CO2) figure slightly adjusted”, VW said. If you would like to discuss another topic, look for a relevant article.

The carmaker has admitted to fitting 11 million diesel engines worldwide with the rogue software, triggering both regulatory and criminal investigations in a range of countries, including Germany.

But in addition to this, the auto giant revealed at the beginning of November that “inconsistencies” had been uncovered on its cars’ carbon emissions as well, affecting not only diesel engines but petrol engines, too.

“We view this as positive and suspect that the previously guided for negative earnings impact of 2 billion euros (£1.4 billion) will in fact end up being materially lower”, said Evercore ISI analyst Arndt Ellinghorst, referring to Volkswagen’s (VW) initial estimate of the cost of inaccurate Carbon dioxide data.

Some Volkswagen Polo, Scirocco, Jetta, Golf, Golf Convertible and Passat models were found to have discrepancies and will be tested by a neutral service before Christmas to see if official Carbon dioxide figures will need to be changed.

It had initially estimated that as many as 800,000 vehicles would be affected.

The automaker said the suspicion that the fuel consumption figures of current production vehicles had been unlawfully changed was not confirmed.

At 1050 GMT, VW shares were up 3.6% to €128.50. “Whether we will have a minor economic impact, depends on the results of the remeasurement exercise”, it added. VW will let an independent organization re-test these nine cars, but says the deviations it discovered were minute, corresponding to increased cycle consumption in the NEDC of approximately 0.1 to 0.2 liters per 100 kilometers.

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VW is scheduled to hold a news conference on Thursday on the fallout so far of the pollution-cheating scandal.

VW's CO2 cheating affects far fewer cars than feared