VW Made $26 Billion on Dirty Diesel Cars in France Alone, Report Says
Which could mean big fines for the German automaker.
A French anti-fraud agency recently performed an investigation concerning Volkswagen's emissions-cheating devices in Europe. The DGCCRF report claims that the manufacturer was able to sell $25.65 billion worth of dirty diesel cars during the Dieselgate years, according to the French publication Le Monde. Additionally, Volkswagen saved €1.52 billion on equipment it would have needed to comply with EU regulations.
These findings could eventually be used by prosecutors in court to set fines against the world's largest automaker. Volkswagen already owes $25 billion to multiple entities in the U.S/, including a recent criminal settlement. If more penalties are brought against the carmaker in Europe, it could be a crucial blow to the recovering business model.
DGCCRF said that the maximum penalty for the company would be 10 percent of its annual income, equating to 19.73 billion euros, or roughly $22 billion. This would come into play if the Paris prosecutor decides to convict VW with fraud.
Recent studies have shown the extreme effects caused by the Dieselgate scandal, a problem that could reportedly cause over 1,200 premature deaths. Volkswagen claims to have fixed or bought back half of the affected models, setting them on the path towards recovery. The company is currently under probation for the next three years.
VW has yet to release a comment on this situation. Check back as we learn more about the ongoing case across the pond.