VW said it found “irregularities” and “unexplained inconsistencies” in the levels of carbon dioxide emitted by its cars. VW shares were once again the biggest losers on the Frankfurt stock exchange. The software reduced emissions when the auto was on a test stand. Up to 11 million Volkswagen vehicles worldwide have the software.
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Volkswagen said it faces about €2bn in economic risks from the newly disclosed issue, which predominantly affects small diesel engines and one petrol one; the €2bn is in addition to the €6.5bn provision against earnings set aside to cover the costs of the fall-out from the first emissions scandal.
“From the very start I have pushed hard for the relentless and comprehensive clarification of events”. They are the first to threaten to make a serious dent in the firm’s vehicle sales since the scandal erupted as they could deter cost-conscious consumers, analysts said.
USA authorities have also reportedly accused VW of fitting nitrogen oxide defeat devices on its larger 3.0 litre diesel engines used in luxury sport utility vehicles for Porsche, Audi and VW, but these allegations have been denied by VW, according to reports.
Meanwhile, VW could be responsible for at least another $375 million in maximum fines for the additional vehicles, up from $18 billion the EPA said it faced in theory in September.
It argued that the so-called Auxiliary Emission Control Devices (AECD) fitted into its engines were not created to cheat pollution tests, but maximize the engine’s performance under different driving conditions.
US dealers have been issued a halt-sale order for 3-liter, 6-cylinder diesel versions of the 2015-16 Audi A6, A7, A8 and Q5 in addition to preowned certified vehicles of the same models.
Curiously, VW said a recall for this specific issue won’t be necessary, suggesting that its estimated costs refer to financial penalties that may be incurred as a result of its latest finding.
The German government will test all current models sold under the VW, Audi, Skoda and Seat brands – with both diesel and petrol engines – for both types of emissions.
The EU’s executive Commission told Volkswagen to speed up its investigation to determine just how the scandal happened, which cars are involved, where they were registered and what remedies are planned. It’s thought numerous group’s Porsche and Audi models could be affected.
The news that Porsche vehicles also had the deceptive software was an embarrassment for Mueller, who headed Porsche before he became CEO.
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“The commission invites VW to speed up its internal investigation”, European Commission spokeswoman Lucia Caudet told a daily briefing.
