x

Abu Dhabi, UAETuesday 20 November 2018

Audi fined almost €1bn over diesel engines

VW unit admits its responsibility for the deviations from regulatory requirements

Audi has accepted a fine over illegal software manipulation of diesel cars. EPA
Audi has accepted a fine over illegal software manipulation of diesel cars. EPA

German premium car brand Audi, a division of Volkswagen, said it was fined €800 million (Dh3.4 billion) on Tuesday for violations tied to heavily polluting six and eight-cylinder diesel engines.

"Considering these special items the Audi Group will significantly undercut major financial key performance indicators forecasted for the fiscal year 2018," Audi said in a regulatory statement.

Parent Volkswagen warned its earnings would also be affected.

_______________

Read more:

Diesel car sales fell sharply in Europe in first half of 2018, IEA reports

EU opens emissions collusion inquiry into VW, BMW and Daimler

_______________

Audi accepts the fine and will not lodge an appeal against it, the company said. By doing so, it said it admits its responsibility for the deviations from regulatory requirements.

Earlier this month, Volkswagen terminated the contract of Audi chief executive Rupert Stadler, who is under investigation for suspected involvement in emissions cheating. Sales executive Bram Schot is acting as interim CEO.

Volkswagen Group received a similar €1bn fine in June when prosecutors in Braunschweig also used a so-called administrative order to punish VW for oversight problems which allowed millions of polluting cars to hit the road.

VW was fined for developing and selling polluting four cylinder engines, while prosecutors in Munich at the time said they were examining whether to impose similar fines Audi.