VW profit falls 20% in wake of Emissions Scandal
As reported by the BBC VW profit has fallen 20% in the first quarter of 2016 as it continues to suffer from the fall out of the emissions scandal that has rocked the car giant. According to the article ore tax profit fell to £2.4bn which is down from this time last year.
In the wake of the emissions scandal, when VW admitted to installing software to cheat emissions tests, VW have set aside over £16bn to par for costs arising from the scandal. They have already agreed a comepnsation package in the US where it will buy back and compensate more than half a million American owners.
As of yet there has been no similar deal agreed with UK owners, despite increasing pressure on VW to and the UK government to come to an agreement.
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