VW says diesel scandal cleanup to cost billions in 2019: paper

File: In 2020, Volkswagen Group will see costs of about 1 billion euros related to emissions cheating.

File: In 2020, Volkswagen Group will see costs of about 1 billion euros related to emissions cheating.

Reuters

FRANKFURT - Volkswagen's cleanup of a diesel cheating scandal will cost it 5.5 billion euros in 2018 and around 2 billion euros in 2019, Chief Financial Officer Frank Witter told German weekly Boersen-Zeitung.

Since 2015, the German car making group has paid more than 27 billion euros to settle investor and consumer lawsuits as well as regulatory fines and remedies tied to resolving excessive emissions levels in its diesel cars.

In 2020, Volkswagen Group will see costs of about 1 billion euros related to emissions cheating, Witter told the paper.

VW is sticking to plans for listing its trucks business in 2019 and continues to see growth potential in China, the world's largest car market, Witter said.

Source
Reuters