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More big carmakers caught in headlights of VW scandal

VW may set aside over 16b euros to cover possible fines, legal and recall costs

Published Fri, Apr 22, 2016 · 09:50 PM
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Frankfurt

MAJOR names in the car industry found themselves caught in the headlights of a global engine-rigging scandal on Friday as the Volkswagen supervisory board totted up the costs for the embattled German car giant.

As VW's supervisory board met to approve the carmaker's 2015 accounts, newspaper reports suggested the group may set aside more than 16 billion euros (S$24.3 billion) in provisions to cover possible regulatory fines, lawsuits and the cost of recalling or replacing the suspect engines.

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