February 1, 2017 / 8:39 AM / 6 months ago

Audi says reviewing provisions for dieselgate scandal

2 Min Read

The logo of German car manufacturer Audi is seen at a building of a car dealer in Duebendorf, Switzerland November 22, 2016.Arnd Wiegmann

MUNICH (Reuters) - Audi (NSUG.DE) is reviewing whether it needs to put aside more provisions to cover the costs of a settlement in the United States over the dieselgate scandal.

Parent group VW (VOWG_p.DE) has agreed to pay at least $1.26 billion to fix or buy back and compensate owners of about 80,000 polluting 3.0 liter diesel-engined vehicles -- and could be forced to pay more than $4 billion if regulators don't approve fixes for all vehicles, court documents filed late Tuesday showed.

"We are using the court documents to review what we still need to set aside for the annual accounts," a spokesman said on Wednesday, declining to provide further details.

Audi has already set aside a total of 980 million euros ($1.06 billion) in provisions for the matter.

Supplier Robert Bosch has separately agreed to pay $327.5 million, which it said did not reflect an admission of guilt.

"After carefully weighing up all the factors, we decided to reach a settlement," Bosch CEO Volkmar Denner said in a statement.

($1 = 0.9270 euros)

Reporting by Irene Preisinger; Writing by Victoria Bryan; Editing by Christoph Steitz

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