Volkswagen

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Today's data summary

Market open
% change
+0.14%
Price Euros
181.95
Change
+0.25
As of 15:22 21 Jan 2020
Market cap. Euros
53,691.63 million
As of 15:22 21 Jan 2020

Latest updates

More prosecutions of VW workers

VW car
VW

German prosecutors have filed charges against six Volkswagen employees for their role in helping the carmaker put heavily-polluting diesel cars on German roads.

The employees worked at the firm between 2006 and 2015 but were below management board level, prosecutor Klaus Ziehe said, adding it was unclear whether they are still employed at the company.

Prosecutors have accused the unnamed employees of fraud and false advertising as well as tax evasion, since VW cars equipped with illegal emissions cheating software should not have received road worthiness certification and tax breaks.

Volkswagen has declined to comment.

UK motorists begin mass claim over VW emissions scandal

VW cars
Getty Images

The UK's first major mass litigation has begun, with about 100,000 motorists seeking redress from Volkswagen over the "dieselgate" emissions scandal.

Lawyers representing owners of VW, Audi, Seat and Skoda cars told the High Court the German firm misled consumers.

In 2015, VW admitted 11 million cars worldwide - including 1.2 million in the UK - were fitted with software that cut emissions readings in tests.

But it denies deceiving regulators, despite rulings against it elsewhere.

And it says that, whatever the merits of the case, the UK drivers seeking compensation faced no losses.

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Volkswagen warns of 'strict cost discipline'

Volkswagen logo
Reuters

Volkswagen said this morning that the group was still "very resilient" in an increasingly difficult economic environment.

"Strict cost discipline is, however, necessary to achieve our goals in the long term," chief financial officer Frank Witter said in a statement.

He added that the German car-maker was sticking to its strategic financial targets for 2020 and 2025

Volkswagen stockpiling for a no-deal Brexit

Volkswagen booth at IAA in Germany
AFP

Car maker Volkswagen has announced that it has increased its stockpiles of cars in the UK to prepare for a no-deal Brexit.

"We have optimised inventory levels upwards to delay the impact of potential import tariffs for a while, but there are limits to what can be done," said Juergen Stackmann, a VW board member responsible for sales and marketing.

"If there are tariffs, we will not be able to absorb them or compensate the cost. We need to be realistic about the fact that cars would get more expensive for customers."