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VW CEO says 6.7b euro provisions sufficient to cover repairs
[BERLIN] Volkswagen does not expect additional costs from fixing US cars capable of cheating diesel emissions tests, Chief Executive Matthias Mueller said on Monday. "We have prepared 6.7 billion euros (US$7.28 billion) for the repair process of all the cars globally. We suppose that that should be enough," Mr Mueller said in an interview with Reuters TV at the Detroit auto show.
Mr Mueller had said on Sunday that VW would propose to the US Environmental Protection Agency (EPA) a new catalytic converter system that VW says could be fitted to about 430,000 rigged US cars.
He told Reuters TV he was "confident" about sales prospects for the VW group this year despite "difficult" conditions in markets.