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Jan 11, 2017, 08.22 PM | Source: Reuters

VW's dieselgate provisions unlikely to top 20 bn euro: Source

VW on Tuesday said it was in talks with US authorities about finalising a USD 4.3 billion settlement, saying a deal would exceed current provisions.

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VWs dieselgate provisions unlikely to top 20 bn euro: Source

VW on Tuesday said it was in talks with US authorities about finalising a USD 4.3 billion settlement, saying a deal would exceed current provisions.

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VWs dieselgate provisions unlikely to top 20 bn euro: Source
Volkswagen's potential USD 4.3 billion settlement with US authorities will hike costs for dieselgate, but the latest bill will likely remain below 20 billion euros, a source familiar with the matter said on Wednesday.

VW on Tuesday said it was in talks with US authorities about finalising a USD 4.3 billion settlement, saying a deal would exceed current provisions.

"We are counting on a sum of 16 billion plus X. The X is likely to be in the 2 to 4 billion range," a source familiar with the matter, who declined to be named, said on Wednesday.

The carmaker declined to comment.

Because VW has already set aside 18.2 billion euros in provisions for dieselgate, further provisions are unlikely to be hiked by a massive amount, leaving the bill below 20 billion euros, the source said.

Of the 18.2 billion euros amount, VW has already booked a 16.2 bln euros charge in 2015.

Tags  Volkswagen
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VWs dieselgate provisions unlikely to top 20 bn euro: Source

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