Volkswagen: CO2 emissions problem far smaller than suspected

During internal remeasurements, Volkswagen found slight deviations on only nine model variants of the Volkswagen brand, with an annual production of about 36,000 vehicles.

German vehicle giant Volkswagen AG (VKW.L,VLKAF.PK,VOW.BE) said Wednesday that it has largely concluded the issues related to carbon dioxide emissions.

“Following extensive internal investigations and measurement checks, it is now clear that nearly all of these model variants do correspond to the Carbon dioxide figures originally determined”, the statement said”. If you would like to discuss another topic, look for a relevant article.

VW has set aside around 6.7 billion euros to help meet the costs of its diesel emissions scandal, but analysts think the final bill could run into tens of billions of euros to cover regulatory fines, lawsuits and vehicle refits.

It is believed at least 11 million models worldwide contained “defeat devices” – software able to change the engine’s performance and run cleaner during official testing.

According to the company, its earlier figure of about 800,000 vehicles under suspicion has not been confirmed. Volkswagen said it had presented its latest findings to the government and the Federal Motor Transport Authority (KBA).

The model variants where these variations were found will be retested by a neutral technical service, and the catalogue figures adjusted appropriately. “Whether we will have a minor economic impact, depends on the results of the remeasurement exercise”, it added.

It had initially estimated that as many as 800,000 vehicles would be affected.

Volkswagen got a rare piece of good news Wednesday: The automaker did not deceive large numbers of customers about how much gas their cars were consuming.

And Porsche, too, said the affair could have a “negative impact” on its own results.

VW is scheduled to hold a news conference of the fallout so far from that scandal on Thursday.