Audi has been fined 800 million euros (£704m) for violating diesel engine emission regulations by German authorities.
The fine, issued by a Munich prosecutor, relates to certain V6 and V8 diesel engines and cars made by Audi.
In accepting the fine, Audi said it would “directly affect” its financial earnings, reducing its 2018 performance.
The fine consists of the maximum penalty for “negligent regulatory offences” and “disgorgement of economic benefits” of 795 euros.
The penalty is the latest development in the diesel emissions scandal that first embroiled the German company in 2015.
Jeremy has been a journalist for 30 years, 20 of which have been in business-to-business automotive. He was a writer and news editor on AM-sister brand Fleet News for three years before setting up the AM website. For the last five years he has been Bauer B2B’s head of digital helping to manage the digital assets of AM, together with Fleet News, Commercial Fleet, Rail and Smart Transport.
Graham - 17/10/2018 12:21
So where does this money go into EU coffers?