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Fiat-Chrysler latest to receive financial life-line – report
News
7th Jun 2020
2 min read

Fiat-Chrysler latest to receive financial life-line – report

Fiat-Chrysler Automobiles (FCA) is the latest to receive a multi-billion euro government-backed loan, with €6.3 billion being made available to the company from one of Italy's largest banks, news agency Reuters reports. This comes after FCA announced in April 2020 that the company had drawn down €7.75 billion from credit facilities dating back to 2015.
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Ben Zachariah
Dieselgate: Volkswagen offers German buyers $1.34 billion in compensation
News
19th Feb 2020
2 min read

Dieselgate: Volkswagen offers German buyers $1.34 billion in compensation

Volkswagen has offered €830 million (AU$1.34 billion) in compensation to German vehicle buyers affected by its 2015 emissions scandal. As reported by Reuters, the offer comes after the Volkswagen Group – parent company for Audi, Skoda, and Porsche – failed to reach an agreement during negotiations with German consumer association, VZBZ. Volkswagen is now looking to settle with German customers directly, extending the offer to those who registered for compensation through the VZBZ.
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Liam Murphy
Mitsubishi being investigated in Germany over diesel emissions defeat devices
News
22nd Jan 2020
2 min read

Mitsubishi being investigated in Germany over diesel emissions defeat devices

Offices in Germany linked to Mitsubishi, including its research and development centre, have been raided as part of an investigation by the Frankfurt prosecutor’s office. The prosecutor's office says it is investigating whether Mitsubishi vehicles fitted with the company's 1.6- and 2.2-litre four-cylinder turbocharged diesel engines used illegal software to pass emissions tests.
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Derek Fung
Porsche offices raided in tax probe
News
29th May 2019
1 min read

Porsche offices raided in tax probe

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Derek Fung
News
29th May 2019
1 min read

Porsche offices raided in tax probe

Porsche 2019
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Derek Fung
Porsche accepts $853 million Dieselgate fine
News
7th May 2019
1 min read

Porsche accepts $853 million Dieselgate fine

The Stuttgart prosecutor's office has penalised Porsche €4 million ($6.4 million) for a "negligent breach of duty" relating to its use of diesel engines with emissions-test-cheating software. The rest of the fine – €531 million ($847 million) – comes from a levy calculated from the "economic benefit" the company derived from its illegal activities.
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Derek Fung
Audi fined $1.3 billion in Germany over Dieselgate engines
News
16th Oct 2018
1 min read

Audi fined $1.3 billion in Germany over Dieselgate engines

Audi has been fined €800 million ($1.3 billion) for regulatory breaches in relation the V6 and V8 turbo-diesel engines engulfed in the Dieselgate emissions scandal. The fine was handed down via an administrative order from the Munich public prosecutors office. In a statement, Audi says it "accepts the fine, and, by doing so, admits its responsibility".
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Derek Fung