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VW says diesel scandal cleanup to cost £1.8 billion euro in 2019 - paper

VW says diesel scandal cleanup to cost £1.8 billion euro in 2019 - paper
FILE PHOTO - Volkswagen logos are pictured during the media day of the Salao do Automovel International Auto Show in Sao Paulo, Brazil November 6, 2018. REUTERS/Paulo Whitaker -
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PAULO WHITAKER(Reuters)
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FRANKFURT (Reuters) – Volkswagen’s <VOWG_p.DE> cleanup of a diesel cheating scandal will cost it 5.5 billion euros (4.9 billion pounds) in 2018 and around 2 billion euros (1.8 billion pounds)in 2019, Chief Financial Officer Frank Witter told German weekly Boersen-Zeitung.

Since 2015, the German car making group has paid more than 27 billion euros to settle investor and consumer lawsuits as well as regulatory fines and remedies tied to resolving excessive emissions levels in its diesel cars.

In 2020 Volkswagen Group will see costs of about 1 billion euros related to emissions cheating, Witter told the paper.

VW is sticking to plans for listing its trucks business in 2019 and continues to see growth potential in China, the world’s largest car market, Witter said.

(Reporting by Edward Taylor; Editing by Ros Russell)

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