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>> They knew it was coming, but an 800 million euros fine was still a big blow for Audi. The penalty was for violations by its larger heavily polluting diesel engines. It means the earnings of its parent, Volkswagen will be impacted. The German premium brand says, it won't be appealing effectively admitting responsibility for breaking regulations.
Earlier this month, Volkswagen terminated the contract of Audi's CEO, Rupert Stadler. He's under investigation for suspected involvement in emissions cheating. In June the Volkswagen group received a similar $1 billion euro fine for oversight problems which allowed millions of polluting cars to hit the road. News of the fine emerged as VW's chief executive issued a warning to auto parts suppliers.
Herbert Diess said if German car makers didn't transform their business to adapt supply chains and meet new regulations. They had a 50% chance of losing their lead in the auto industry. But it's not just German cars caught in the emissions scandal. Sweden's Volvo has just warned some of it's truck and bus engines could be exceeding limits for nitrogen oxide emissions, sending it's shares lower.