VW postpones 2015 results as it grapples with scandal

German carmaker Volkswagen said it would push back publication of 2015 results and its annual shareholders’ meeting as it continues to grapple with the impact of its emissions test-rigging scandal.

More than four months after the scandal broke in the US, Volkswagen (VW) still lacks a technical solution for almost 600,000 diesel cars and is facing a growing number of legal allegations.

Top players on VW’s supervisory board have been meeting more frequently lately to discuss the crisis, including how to account for the scandal in the carmaker’s annual results which originally were due to be released in full on March 10th.

The inner circle of the 20-member supervisory board on Wednesday discussed to what extent Volkswagen would need to incorporate provisions for the scandal in the 2015 results, a person familiar with the matter told Reuters.

Volkswagen said yesterday it would set new dates for the 2015 results and its annual shareholders’ meeting, initially planned for April 21st, citing “remaining open questions and the resulting valuation calculations relating to the diesel emissions issue”. – (Reuters)