Parent company VW said last week the overall impact of the diesel crisis has now reached 30 billion euros. (Photo: Patrick T. Fallon/Bloomberg)
(Bloomberg) — Volkswagen AG's Porsche sportscar unit agreed to pay 535 million euros ($599 million) to end a probe into rigged diesel engines, bringing the total amount of fines in its home country to more than 2.3 billion euros.
The carmaker won't appeal the order which was levied as part of an ongoing criminal investigation targeting managers at the Porsche brand, the Stuttgart prosecutors office said in a statement on May 7. The penalty covers the sale of cars since 2009 that were equipped with V6 and V8 engines from VW's sister brand Audi.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
