VW has fixed less than 10 percent of rigged European diesel cars
- Top 10 News for 9/19 - 9/23: Twitter on the Auction Block; Allergan Bolsters NASH Effort; Microsoft Returns Value
- Wall Street falls as energy lags; shares post gains on week
- Rumored Forever, Twitter (TWTR) May Have Finally Put the 'For Sale' Sign Up
- Facebook (FB) Shares Under Pressure on Reports Video Ad Metrics Were Artificially Inflated
- Brookfield Infrastructure (BIP)-Led Consortium to Take Controlling Stake in Petrobras' (PBR) NTS for $5.2B
File photo of Volkswagen logos adorning a sign outside a dealership for the German automaker located in the Sydney suburb of Artarmon, Australia, October 3, 2015. REUTERS/David Gray/File Photo
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BERLIN (Reuters) - Volkswagen
Germany's KBA motor vehicle authority has approved proposed fixes that would resolve the problem in about 5.1 million vehicles, said the VW manager in charge of the European diesel recall necessitated by the emissions cheating scandal that has engulfed the company.
"Ten percent of this (number) have been retrofitted with good results," Manfred Bort said in VW's in-house journal "inside" published on Monday.
Of the roughly 11 million vehicles affected globally, about 8.5 million are in Europe.
VW group models with 1.2 liter and 2.0 liter engines require only a software update on pollution control systems, but about 3 million 1.6 liter models also require a mesh to be installed near the air filter.
Europe's largest automaker is in the midst of developing and testing software variants to fix all the cars and will do "everything" to secure the KBA's approval of its solutions by November, Bort said.
The German manufacturer has said the majority of the 8.5 million cars in Europe can be repaired this year, but an unspecified number will have to wait until 2017.
"We want to inform all affected customers in Germany by the end of the year that the technical solution is available," Bort said.
(Reporting by Andreas Cremer; Editing by David Goodman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lanxess to buy Chemtura for about $2.12 billion in cash
- Local candidate killed in Rio suburb, highlighting crime woes
- BOJ's new framework faces test as market to scrutinize bond operations
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!