Volkswagen Group increases Provision for Recall Actions in North America
- Additional provisions to the agreed buy-back/retrofit–program for the 2.0 liter vehicles in North America, due to the more technically complex and time consuming implementation, will burden the Operating Result
- The Volkswagen Group will publish the Interim Report for January-September on 27th of October
The Volkswagen Group today issued an ad-hoc statement to the capital markets as follows:
In the third quarter negative special items of ca. €2.5 billion are expected to burden the Operating Result. The reason is an increase in provisions relating to the buyback/retrofit program for 2,0l TDI vehicles, which is part of the settlements in North America that is proving to be far more technically complex and time consuming.
The complete Interim Report of the Volkswagen Group for the period January-September 2017 will be published on October 27th.