Audi Fined $926 Million Over Volkswagen Diesel Emissions Scandal

German prosecutors fined Audi, a Volkswagen subsidiary, €800 million ($926 million) over the automaker’s ongoing diesel emissions scandal.

Volkswagen accepted the fine Tuesday and admitted rigging software to make its vehicles appear to comply with clean air regulations, when in fact they did not. In a company statement, Volkswagen said the fine “will directly affect Volkswagen AG’s financial earnings and, as a negative special item, reduce the group earnings of Volkswagen AG accordingly.”

Volkswagen has already paid billions in fines following the 2015 reveal of the emissions scandal—dubbed “dieselgate” read more »

Volvo Trucks’ Emissions Warning Spooks Investors

Another emissions warning is spooking investors.

If your aim was to pen a statement likely to put the fear of God into investors in the automotive industry, it would probably read something like the one Volvo AB published on Tuesday.

“Nitrogen oxide,” “North America,” and “material” financial impact are phrases no shareholder wants to read in the wake of Volkswagen AG’s diesel-emissions scandal.

Until now, truckmakers had largely escaped the scrutiny that put car manufacturers on the defensive since the scandal: Indeed, studies showed that modern trucks are surprisingly clean. That may be about to change. read more »