Volkswagen said it may set aside more than $7billion to cover the costs of the recent emissions scandal if car sales suffer, according to its chief executive.
Matthias Mueller told reporters on a visit to the company’s headquarters in the German town of Wolfsburg the business would “react rapidly” to any changes.
He said:”The 6.5 billion (euros) apply to the recall,” Matthias Mueller told reporters after a tour of VW’s headquarters in the German town of Wolfsburg.
“I can only speculate about any further provisions. Should there be a change in sales volumes, we would react rapidly.”
Lower Saxony Premier Stefan Weil, a VW supervisory board member, said sales had been stable in October so far.
Volkswagen also confirmed it had stopped the sale within the European Union of new cars containing the software that can cheat diesel emissions tests.
VW admitted on Sept. 18 it used illegal software to manipulate emissions tests on diesel vehicles in the United States, sparking the biggest business crisis in its history.
The admission has wiped about a quarter off its stock market value, forced out its long-time chief executive and sparked investigations and lawsuits across the world