Audi Fined Nearly $1 Billion by German Prosecutors for Diesel Violations

Audi has been fined $927.12 million by German prosecutors for violations tied to V-6 and V-8 diesel engines that did not conform to anti-pollution standards.

Audi accepted the fine and will not lodge an appeal against it, the company said in a statement. By doing so, the automaker admits its responsibility for the deviations from regulatory requirements. Audi said the fine would have an impact on its annual earnings.

Analyst firm Evercore ISI said it viewed the fine as “manageable” and “positive” for removing another uncertainty at VW Group in the wake of its diesel scandal. It noted, however, that VW still faces a shareholder case for $9.5 billion that it said could run for “years.”

Click to continue reading this article by Automotive News.