Employees at the Volkswagen plant in Chattanooga, Tenn., work on the assembly of a Passat sedan. (AP Photo/Erik Schelzig, File)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Volkswagen is looking at ways to cut costs and boost cash flow and could sell more shares if the price of clearing up a scandal over its rigging of diesel emissions tests puts its credit rating at risk.The company has set aside 6.5 billion euros ($7.2 billion) to help cover the costs of the scandal, but some analysts think the final bill could be much higher.Volkswagen has said it will refit up to 11 million diesel vehicles containing software capable of cheating emission tests.Warburton noted Volkswagen had 17.6 billion euros of cash at the end of the second quarter, plus 15 billion euros of marketable securities.A project manager at a diesel engine component maker who declined to be named told Reuters he expected "lucrative" business from servicing Volkswagen cars.Volkswagen, which is already implementing a 5 billion euro cost savings program at its VW brand, imposed a hiring freeze at its financing arm and cut a shift at a German engine factory Tuesday, in a sign it is bracing for a blow to its business.
FOLLOW THIS ARTICLE