| 12:04 PM EST

VW Emerges from U.S. Oversight in Diesel Scandal

Audit says VW’s flawed certification process has been fixed.
#europe #Volkswagen

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A three-year U.S. audit concludes that Volkswagen has mended its ways after years of cheating on diesel emissions.

In his final report, U.S.-appointed auditor Larry Thompson, a former U.S. deputy attorney general, says VW has completed an extensive overhaul of its compliance procedures to avoid another scandal.

Image: VW

The audit stems from VW’s admission in 2015 that it had rigged 11 million of it diesels to evade emission standards worldwide. Roughly 555,000 of those vehicles were sold in the U.S.

Consent Decree

VW agreed to the audit as part of a $4.3 billion consent decree in 2017 to settle criminal charges brought by the U.S. Dept. of Justice. The charges asserted that VW lied to U.S. and California regulators about the cheating and misrepresented the performance of the manipulated diesels to customers.

The deal followed a $14.7 billion civil settlement a year earlier to compensate owners of the rigged diesels.

VW has agreed to date to pay out some $23 billion in fines, remediation and ownercompensation, mainly in the U.S. But it’s not in the clear yet. A bevy of similar lawsuits are piling up in Europe that could multiply the company’s settlement costs.

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