No finish line in sight for VW. The company said it is considering buying back more than 500,000 diesel cars in the U.S. if they can’t be fixed to comply with emission standards after VW used software to falsify test results.
Volkswagen Group will set a new date for the publication of the annual accounts for fiscal year 2015 due to remaining open questions and the resulting valuation calculations because of the ongoing diesel emissions scandal. During January VW brand U.S. sales dropped -15% in a market that showed no growth.
Consequently, new dates for the Annual Press Conference (previously planned for March 10, 2016) as well as the Annual General Meeting of shareholders, (previously planned for April 21, 2016) will be announced “as soon as possible.”
Before special items Volkswagen anticipates the Operating Result for the Group at the level of the prior year within the expected range for fiscal year 2015. The timing of the report clarifying the background and responsibilities connected to the diesel emission issue is not affected by this decision. Volkswagen is sticking to the timing and plans to publish the findings in the second half of April.
