Volkswagen skids on report of DoJ fine
Volkswagen was under the cosh on Tuesday following a report that the US Justice Department is assessing how big a fine it can extract from the beleaguered German car maker without putting it out of business.
Volkswagen AG
€86.75
17:30 15/11/24
0.46%
€0.40
Bloomberg cited people familiar with the matter as saying that the US government and VW were trying to reach a settlement by January before a new US administration comes into place.
It was not clear what penalty range the US is considering in the case of Volkswagen, which has already agreed to pay an industry-record $16.5bn in civil litigation fines in the US after it admitted last year that its diesel vehicles were fitted with emissions-cheating defeat devices.
At 1215 BST, VW shares were down 3.9% to €111.70.