trending Market Intelligence /marketintelligence/en/news-insights/trending/o2mlydpfeio4qk3spmnrng2 content esgSubNav
In This List

Volkswagen confirms report of headquarters raid by prosecutors in emissions case


S&P Capital IQ Pro | Powering Your Edge


S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights


Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Volkswagen confirms report of headquarters raid by prosecutors in emissions case

German automaker Volkswagen AG confirmed report by a local magazine that German prosecutors carried out another search of its global headquarters in Wolfsburg in early March as part of an investigation into its 2015 diesel emissions scandal, Reuters reported.

WirtschaftsWoche quoted a spokesman for the investigators as saying that authorities from the city of Braunschweig confiscated documents and computer files that will be reviewed over the next few weeks, according to Reuters.

The prosecutors are trying to determine whether Volkswagen understated carbon dioxide, or CO2, emissions on more cars than it has publicly admitted, the magazine reported.

The authorities reportedly said they were looking into a statement issued by the automaker Dec. 9, 2015, on suspicions that its contents were not correct and to determine whether it represented a case of market manipulation.

In December 2015, Volkswagen found in its own investigation that it had understated CO2 emissions on no more than 36,000 vehicles, which is lower than the company's preliminary estimate of about 800,000 vehicles, according to Reuters.

A Volkswagen spokesman declined to comment further; the prosecutor's office was not immediately available to comment, according to Reuters.