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Volkswagen takes $18 billion hit over emissions scandal
April 23, 2016 by admin · Leave a Comment
By Andreas Cremer and Edward Taylor WOLFSBURG/FRANKFURT (Reuters) – Volkswagen (VW) said on Friday it would take a 16.2-billion-euro ($18.2 billion) hit to its 2015 results and slash its dividend to help pay for its emissions-test cheating scandal. The news came amid growing signs a regulatory clampdown in the wake of VW's cheating is affecting the broader industry, with Germany-based automakers including Mercedes-Benz, and Opel – as well as VW – agreeing to recall a total of 630,000 cars to fix diesel engine technology blamed for high pollution. On…
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Volkswagen takes $18 billion hit over emissions scandal