According to the chief executive at Volkswagen, Matthias Mueller, the processes required to refit and fix approximately 8.5 million European vehicles were manageable from a financial and technical perspective.
According to analysts, the total costs of vehicle refitting, lawsuits and fines for Volkswagen post the emission scandal could touch around 40 billion euros or approximately $42 billion. However, the company’s Chief Executive, Matthias Mueller has declared how it is financially and technically feasible to undertake the processes required for refitting close to 8.5 million Volkswagen cars in Europe that were fitted with emission controlling illegal software.
According to Audi, a mid-level double digit million euro figure would be required for re-programming the entire auxiliary emission controlling software or AECD in the diesel 3.0 liter engines declared illegal by US authorities. The Environmental Protection Agency issued a declaration earlier, stating that emission issues now cover an extra 75, 000 vehicles from the Volkswagen Group including Porsche and Audi models. The luxury division stated its inability to suitably disclose usage of AECDs. Audi has already decided to take its affected vehicles off the market with immediate effect.
Volkswagen has put aside 6.7 billion euros for covering diesel recall costs and 2 billion euros for paying compensation related o carbon dioxide emission manipulations. Mueller spoke of how the entire clear-up would take many months though the Volkswagen Group does plan to reveal intermediate investigation results in December. According to Mueller, investigations are going on in full swing and the processes are quite complex which date back quite a long time.