Volkswagen has to present an acceptable plan to bring 580,000 diesel vehicles into compliance with US law by Thursday. Civil and government lawsuits could be very costly to the carmaker.
US regulators have approved a fix for emissions systems in 38,000 Volkswagen AG 3.0-liter vehicles. The decision means the German carmaker won't have to buy the vehicles back, potentially saving more than $1 billion.
Net profits tumbled in the third quarter at Volkswagen as the world's biggest carmaker booked higher-than-expected charges related to the emissions cheating scandal in the US. Surprisingly, VW's future looks rosier.
Nitrogen oxide (NOx) emissions were at the center of the Dieselgate scandal that swamped Volkswagen two years ago, but the carmaker's head of development says that problem is solved with its latest engines.
A former top manager for Audi has reportedly been detained as part of an investigation into the emissions cheating scandal at parent company Volkswagen. Prosecutors say they are widening their probe.
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