Porsche has to pay a penalty of 535 million euros because of diesel scandal
3 replies, posted
The article was originally in german. It has been translated with Google translate, but if some german user wants to translate the article, post it and I will transfer it to this post.
The diesel scandal has cost the Volkswagen Group in Germany now well over 2.3 billion euros in fines and profit levies. After the brands VW and Audi must now also pay the subsidiary Porsche a full penalty.
Although Porsche did not produce any manipulated diesel engines, the company equipped some 99,000 vehicles with Audi V6 and V8 diesel engines that did not meet the legal requirements for emissions of nitrogen oxides. The vehicles were distributed in Europe and other markets worldwide.
Original text(German):
Der Dieselskandal hat den Volkswagen-Konzern in Deutschland inzwischen gut 2,3 Milliarden Euro an Bussgeldern und Gewinnabschöpfungen gekostet. Nach den Marken VW und Audi muss nun auch die Tochtergesellschaft Porsche eine satte Strafe zahlen.
Porsche selbst stellte zwar keine manipulierten Dieselmotoren her, allerdings stattete das Unternehmen rund 99 000 Fahrzeuge mit V6- und V8-Dieselaggregaten von Audi aus, die nicht den gesetzlichen Anforderungen beim Ausstoss von Stickoxiden entsprachen. Die Fahrzeuge wurden in Europa und auf weiteren Märkten weltweit vertrieben.
Source: Diesel
Shame that €535 million is a pittance to Volkswagen, seeing as they made €13.9 billion in profits last year. Yeah it's €2.3 billion in fines overall, but that's still letting them do it, that's still letting them work with over €10 billion in profit by the end of the year.
2.3 billion in total fines is still 15% of Porsche's total revenue. Not even counting shareholders to a large manufacturer that hurts because the last thing management is going to do is suffer less pay so the machines and factory floor gets neglected while the workers are forced to do overtime to make up the difference which cascades into lost limbs, layoffs and broken machines on top of the absolute mess that factory floors already are.
compare the fines to their profit, not revenue
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