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Record $125 million fine for Volkswagen upheld

Max Mason

The full Federal Court of Australia has upheld a record $125 million penalty imposed on Volkswagen AG over false representations made about the diesel emissions standards of its cars, dismissing the German automotive giant’s appeal to have it reduced to $75 million.

Volkswagen and the Australian Competition and Consumer Commission had agreed on a $75 million penalty. The company admitted, when it went to the Australian government for approval to import 57,000 vehicles between 2011 and 2015, it did not disclose so-called two-mode software.

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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com

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    Original URL: https://www.afr.com/companies/manufacturing/volkswagen-s-record-125-million-fine-upheld-20210409-p57hxy