VW hit with more charges

FRANKFURT – Embattled German auto giant Volkswagen said yesterday it booked a charge of ß2.2billion (about R35-billion) in the first six months in relation to its engine-rigging scandal, but its operating performance before that charge was better than expected.

The operating result before special items stood at ß7.5-billion, despite the ongoing economic impact from the diesel issue, VW said.

VW was plunged into scandal last September when it emerged it had installed sophisticated software into 11 million engines worldwide that skewed emissions data. Last month, VW agreed to a record $14.7-billion (about R210-billion) payout to try and settle the affair in US. –