In comparison to other recent punishments, this is a fairly small fine for the company.
The cost of Volkswagen’s diesel emissions scandal keeps growing, and the company now must pay 5 million euros ($5.4 million) to Italy’s anti-trust regulator.
According to the agency, the automaker deceived buyers by telling them its vehicles met pollution rules. In reality, a software defeat device only conformed the engines’ emissions to the law during testing. According to Automotive News citing Reuters, the amount was the heaviest punishment the group was legally able to order, but VW pledged to appeal the decision.
Italy’s decision is just one of VW’s many financial blows from regulators around the world in recent months. For example, South Korean officials recently fined the company the equivalent of $16 million (14.3 million euros) over the emissions scandal, and the country demanded a stop sale on 80 models there. Lawyers in Bavaria, Germany, also started proceedings to sue the automaker for losses to the state’s pension fund. The biggest punishment so far has been in the United States where a judge granted preliminary approval to a nearly $15-billion settlement, which included over $10 billion to buy back polluting vehicles from owners.
If there’s a bright spot for Volkswagen Group, it’s that the scandal isn’t affecting global sales. In fact, the firm currently holds the title as the world’s largest automaker. Through the first half of 2016, the company moved 5.12 million vehicles, 1.5 percent more than the first six months of last year.
Source: Automotive News