Porsche is in a bit of trouble. Enough trouble to cost them nearly $600 million. German regulators have found the brand guilty for involvement in the VW diesel scandal on Tuesday, and have fined them $598 million as a result.
This is what is looking like the end of a four-year-long controversy around VolksWagen's diesel record manipulations. Related investigations revealed that a number of supervisor positions below the executive level were negligent in testing their internal combustion engines for proper compliance. Porsche claimed that they do not develop diesel engines, implying that VW is to blame. Further investigations showed that Porsche has been aware and ignorant of these regulation failures since 2009.
Porsche stated later that day that they will not appeal the decision.
Audi is another company that experienced the same fate. They were handed a $927 million fine last October for violating emission regulations. The VW Group as a whole has been issued over 30 billion dollars in fines for the discrepancy throughout the entire ordeal.
I wonder if it was worth it, in the end.
Porsche Hit With $598 Million Fine Over Diesel Scandal
Posted By: LizardRock | 0 Comment(s) Posted On: May 09, 2019 @ 04:50 PM