VW announces loss of another $3B in USA diesel scandal

Audi Electric Cars To Be Built Around The World

German police arrested and detained a man Thursday who had previously been one of Volkswagen Group's highest-ranking engineers, over his role in the company's diesel emissions scandal.

Its shares dropped after the statement and were down 3.1 per cent at the bottom of the German blue-chip DAX index which was up 0.2 per cent.

VW's diesel emissions scandal bill is set to reach $30 billion as the German vehicle manufacturer faces another $3 bill to fix affected engines in the United States.

The diesel cars in the US affected by scandal only represent a small part of the 11 million rigged cars globally.

German weekly Der Spiegel reported today that VW could face further scrutiny because it failed to properly inform USA regulators about changes to emissions control software in almost one-half million cars with gas engines.




The additional provisions will hit operating results in its third-quarter report, due October 27, the Wolfsburg, Germany-based company said Friday in a statement.

Volkswagen has recalled about 11 million vehicles worldwide since admitting two years ago to manipulating emissions tests in the United States, about 8.5 million of the figure are in Europe. The fix is taking longer and some cars had to be worked on a few times.

Porsche Automobil Holding SE, the investment vehicle that controls a majority stake in Volkswagen, said the company's provision hike would negatively affect its third-quarter results.

At the Frankfurt motor show earlier this month, Volkswagen outlined plans to move away from combustion engines with electrified variants of all 300 models in the 12-brand group's lineup. Facing threats of a ban on diesel cars by German cities under pressure to reduce pollution, Volkswagen and other auto makers are offering up to EUR10,000 in discounts on a new auto for customers who trade in old diesel vehicles. The Volkswagen warranty extends along with those loans to help save the first-and even second buyer of a VW-repair costs.

Public prosecutors have taken former Volkswagen Group powertrain development director Wolfgang Hatz into custody in Germany over the Dieselgate fraud scandal.

Related news:

Hot News

isis-killer-beheading-video-story-top Aston Martin is Designing a Three-Person Luxury Submarine
Sep 29, 2017 - 00:43
Aston Martin says the partnership "has shaped a unique concept that will lead to an exclusive, strictly-limited edition vehicle". Aston Martin has shown off its design for a limited-edition submarine . "For researchers, explorers and superyacht owners".

isis-killer-beheading-video-story-top Trump Waives Jones Act for Puerto Rico Relief
Sep 29, 2017 - 00:40
Now foreign-flagged vessels also will be able to move shipments from the USA mainland to Puerto Rico and between ports there. It also was shipping a large generator to power a radar center to help air traffic control in San Juan and other airports.

isis-killer-beheading-video-story-top Sheila Keen Warren: Killer Clown Cold Case Returns to Love Triangle
Sep 28, 2017 - 00:32
In 1991, Michael Warren denied having an affair with Keen and told the Miami Herald he could not say whether she killed his wife. The crime was considered a cold case until 2014, when it was reopened by the Palm Beach County Sheriff's Office Cold Case Unit.

isis-killer-beheading-video-story-top Trump 'not happy' with United States health chief Price over private travel
Sep 28, 2017 - 00:28
A spokeswoman, Charmaine Yoest, said Price had once been delayed on a commercial flight and was forced to cancel a public event. The committee is looking at all Cabinet member travel, not just Price's.

isis-killer-beheading-video-story-top Saudi king decrees women be allowed to drive
Sep 27, 2017 - 00:41
Last month, Saudi police arrested an Arab woman after video circulated showing her driving a vehicle in the Eastern Province. State Department reacted to the news by saying it is a "great step in the right direction".

isis-killer-beheading-video-story-top Eruption fears as 57000 flee Bali volcano amid tremors
Sep 27, 2017 - 00:39
Many Indonesians live near volcanoes because lava flows can make the surrounding soil and land fertile for farming. If Mount Agung erupts, it will be the volcano's first since 1963 - when more than 1,000 people died.

isis-killer-beheading-video-story-top Saquon Barkley named Big Ten Offensive Player of the Week
Sep 26, 2017 - 00:31
Through the first half, Iowa gave up just 5 points 2 on a safety - even though the Lions made it into Iowa territory six times . In two games against the Hawkeyes, Barkley now has 569 all-purpose yards (167 rushing, 44 receiving in the 2016 game).

Latest track keeps Hurricane Maria off coast, then out to sea
Sep 26, 2017 - 00:30
Temperatures will finally feel more seasonable and cooler with lower humidity by Sunday - right on time for the start of October. The hurricane center said forecast models agree on this general scenario but differ on the timing and location of that curve.

isis-killer-beheading-video-story-top No structural damage in left knee, no setback for Sam Bradford
Sep 25, 2017 - 00:39
Minnesota Vikings running back Dalvin Cook rushes for his first National Football League touchdown on a one-yard tote. According to Tom Pelissero of NFL Network, Bradford is getting a second opinion on his knee Friday with Dr.

isis-killer-beheading-video-story-top Mormon-owned BYU lifts ban on selling Coca-Cola
Sep 24, 2017 - 00:33
The addition of caffeinated sodas to BYU dining halls is the latest development in a bubbling controversy over soda in the Church. But officials with the school of 33,000 students in Provo, Utah, said Thursday that increasing demand prompted the change.

isis-killer-beheading-video-story-top New Zealand PM English makes strong start in early election count
Sep 24, 2017 - 00:30
Morgan, bellicose to the end, told Newshub he was "disappointed in New Zealanders, basically". Their vote shares mean that the National Party bagged 58 seats and the Labour Party, 45.

isis-killer-beheading-video-story-top Project Fi intros Moto X4 as first Android One offering
Sep 23, 2017 - 01:25
Moto E4 Plus is the best smartphone if you are looking for a premium metal design, stock Android user experience, and big battery. Motorola has provided USB Type CTM Port for charging and a 3.5 mm headphone jack for using a headphone/earphone with the device.

isis-killer-beheading-video-story-top CVS Pharmacy Looks To Curb Painkiller Addiction With Strict Supply Limits
Sep 23, 2017 - 01:22
The drug store chain also says it will boost funding for addiction programs, counseling, and safe disposal of opioids. CVS said this isn't a blame game.

isis-killer-beheading-video-story-top Kylie Jenner is pregnant
Sep 23, 2017 - 01:18
Rumors are swirling that Kylie Jenner is pregnant! "She is REALLY excited and so is Travis! ". TMZ said it could not verify it, but Scott may have told friends they are expecting a girl.

isis-killer-beheading-video-story-top Global diplomacy continues at United Nations over N Korea crisis
Sep 22, 2017 - 00:37
Trump will first meet Moon, then have lunch with Moon and Japanese Prime Minister Shinzo Abe, then meet separately with Abe. A more promising avenue would be to go after North Korea's enablers, like China and Russian Federation .