Volkswagen takes £725m hit from motor finance scandal
4 Articles
4 Articles
The British VW financial subsidiary has to adjust to high costs due to faulty car loans. This incident is part of a series of burdens for German car manufacturers.
Volkswagen takes £725m hit from motor finance scandal
The finance arm of Volkswagen has taken a mammoth hit from the motor finance scandal plunging it to a loss for the year. Volkswagen Financial Services UK (VWFS) set aside £725m for expected expenses under the City watchdog’s industry-wide car finance redress scheme, according to new account filings. The provision swung the firm to a [...]
Volkswagen Financial Services UK has set aside £725 million for expected customer compensation payments related to its vehicle financing operations in the UK. The company allocated this amount to Companies...
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