Volkswagen CEO on investigation: Hopefully concluded by Christmas – CNBC

Posted: Thursday, September 29, 2016

Volkswagen CEO Matthias Mueller told CNBC on Wednesday that he hopes the U.S. Justice Department will reach a conclusion in its investigation of the German car-maker by Christmas.

Last year, the U.S. Environmental Protection Agency said the company has been cheating on American air pollution tests in diesel vehicles issued between 2008 and 2015, which the company later admitted. The Justice Department later filed a civil complaint against it.

On Tuesday, a Bloomberg report said the Justice Department was assessing how big a criminal fine it can obtain from Volkswagen without putting it out of business. It said the U.S. government and Volkswagen are trying to reach a settlement by January.

“This year we spent a lot of work in clearing up the diesel issue,” Mueller said on CNBC’s “Power Lunch.” “We worked with the authorities in Germany, in Europe and especially in the United States.”

He continued to say on the Justice Department’s decision, “We would be happy if it were to happen this year … basically a Christmas present.”

Volkswagen’s stock was trading higher in early afternoon trading Wednesday. The stock is down more than 14 percent year to date.


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