Germany Issues EUR800 Million Fine Against Audi, Concluding Diesel Emissions Proceedings
October 16 2018 - 5:41AM
Dow Jones News
By Max Bernhard
German prosecutors have issued a 800 million euro ($925.8
million) fine against Audi AG (NSU.XE) concluding regulatory
offence proceedings over the premium-car maker's diesel cars,
parent company Volkswagen AG (VOW.XE) said Tuesday.
Volkswagen said the fine will directly impact its full-year
earnings, leading major shareholder Porsche Automobil Holding SE
(PAH3.XE) to issue a profit warning.
Audi is accepting the fine and "admits its responsibility," the
company said.
The fine consists of a penalty for "negligent regulatory
offences and the disgorgement of economic benefits," Volkswagen
said.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
October 16, 2018 05:26 ET (09:26 GMT)
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