German prosecutors fine Audi $927M over diesel scandal
2019 Audi Q8, Atacama Desert, Chili, media drive, June 2018
German prosecutors served Audi a $927 million fine for violating diesel emission regulations in Europe. Specifically, the fine pertains to 6- and 8-cylinder diesel engines that did not comply with emissions laws, Reuters reported Tuesday.
The massive fine prompted Audi to cut key financial performance indicators and parent automaker VW also said the fine will affect its earnings. The German luxury brand also said it has accepted the penalty. By accepting the fine, Audi admitted responsibility for its actions in producing vehicles that did not meet regulatory requirements.
At Audi, the brand’s former chief executive officer, Rupert Stadler, was arrested in Germany in June for his connection to the diesel scandal. The arrest pushed back the reveal of Audi’s first battery-electric car, the e-tron crossover SUV. Since Stadler’s arrest, VW terminated the executive and stripped him of his position on VW’s board of management. His arrest and termination came as the latest shift in management across VW and its brands.
Prosecutors served Volkswagen Group a fine totaling $1.16 billion for allowing millions of over-polluting cars on European roads. In October 2016, a U.S. judge approved VW’s $14.7 billion buyback for cars featuring the 2.0-liter diesel engine, and in February 2017, VW agreed to a $1.2 billion settlement in the United States with owners of vehicles powered by 3.0-liter diesel engines. Affected vehicles included the Porsche Cayenne Diesel, Volkswagen Touareg, and numerous Audi models. One month earlier in January, VW settled diesel-scandal criminal charges with a $4.3 billion fine in the U.S. as well.
In total, VW’s diesel scandal has cost the automaker over $30 billion in buybacks, fixes, and fines in Europe and North America. It’s likely the figure will grow once German authorities finish their investigation.
Acura’s sinister NSX GT3 race car has come in for some updates and is now even faster and better handling than before. The NSX GT3, as the name suggests, is designed for GT3-spec competition. It made its debut in the 2017 motorsport season and in a short time has proven to be a formidable weapon...
BMW on Tuesday unveiled its entry into the highly competitive full-size luxury SUV segment: the 2019 X7. Due for delivery next March, BMW brings the fight with a generous list of features included as standard within the X7’s $73,900 starting price. The price nets you an X7 xDrive40i which comes with a 3.0-liter turbocharged inline-6...