German Finance Minister Wolfgang Schäuble said he didn't understand how Volkswagen bosses could defend their bonuses after a huge emissions-rigging scandal plunged the carmaker into global turmoil, according to an interview with Die Welt published Sunday.
Major names in the auto industry found themselves caught in headlights of a global engine-rigging scandal on Friday as Volkswagen totted up the costs it faces so far.
Shares in German carmaker Daimler, owner of Mercedes-Benz, fell sharply on Friday after the group announced a steep drop in profits in the first quarter and a probe into the emissions values of its cars.
Embattled German carmaker Volkswagen will offer $5,000 to each US buyer of its diesel cars which were installed with emissions-cheating software in a bid to avoid a major court case, Die Welt newspaper reported in its Thursday edition.
Top executives at Volkswagen are refusing to forego their bonuses this year, despite prescribing belt-tightening for the carmaker's workforce in the wake of the massive emissions-cheating scandal, Spiegel reported on Thursday.
Germany’s biggest car manufacturer also has a sideline in currywurst. In 2015 the scandal-hit company sold more of the spicy sausages than they did cars.
The US government sued Volkswagen Monday for installing equipment on nearly 600,000 diesel cars that intentionally subverted clean-air regulations, resulting in excess harmful emissions.
German car giant Volkswagen, scrambling to
contain a massive pollution test cheating scandal, said on Sunday it would begin
rotating staff to keep better tabs on its operations.
He quit his job as head of Volkswagen after the company was found to have cheated pollution tests on a mass scale. But German media report Martin Winterkorn is still picking up his multi-million euro salary.
Germany's transport minister said on Sunday that in the wake of the Volkswagen emission cheating scandal, major automakers would have to disclose their engine software to state regulators.
Frustrated European officials alerted the US to Volkswagen's emissions cheating scam after the European Commission failed to act on the intel for years, German media reported on Friday.
Shares in Volkswagen tumbled on the Frankfurt stock exchange Tuesday amid new accusations in the ever-widening emissions cheating scandal, but the German auto giant adamantly denied the new charges.
German auto giant Volkswagen booked Wednesday its first quarterly loss in 15 years in the wake of the global pollution-cheating scandal which also forced it to lower its full-year forecasts.
Volkswagen sales in Germany have increased in the month since it emerged that the car giant tricked emissions authorities for years by using illegal software in its diesel engines.
A group of leading environmental organizations called on Monday for the German government to implement more comprehensive pollution tests for cars in the wake of Volkswagen's emissions cheating scandal.
Police have raided Volkswagen's French headquarters over an investigation into the massive pollution-cheating scandal that has engulfed the German auto giant, a judicial source said Sunday.
German prosecutors said on Friday they had identified fewer than 10 suspects in the massive pollution-cheating scandal that has engulfed Volkswagen, as the auto giant announced a drop in worldwide sales.
Volkswagen will be required to recall 2.4 million cars under orders from German authorities, after a proposed time-frame laid out by the car manufacturer was rejected.
German auto giant Volkswagen said Tuesday it would slash its annual investment budget by €1 billion for its main VW brand in the wake of the pollution-cheating scandal.
Leonardo DiCaprio is set to make a movie about Volkswagen's emissions cheating scandal, after his film company bought the rights to a book on the subject.
The new chief of embattled carmaker Volkswagen said the recall of diesel cars affected by the pollution cheating scandal could start by January and end by the end of 2016.
