Twenty-seven billion seemed like an odd number, so Volkswagen upped the financial cost of its diesel emissions scandal to an even $30B. Actually, the extra expense comes entirely from the repair of older U.S.-market vehicles, which are proving less easy to fix than anticipated.
Because of this, VW has to rustle up some extra cash. The automaker set aside $26.7 billion to put the scandal behind it, and this latest price jump has the company pole vaulting over that marker.
This isn’t the only new grief facing VW, however. German media and The New York Times are reporting the arrest of the highest-ranking official so far — VW Group’s former powertrain chief. (Read More…)














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