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Volkswagen Fined Nearly $1.2 Billion in Emissions Scandal


FILE - Volkswagen cars are lifted inside a delivery tower of the company in Wolfsburg, Germany, March 14, 2017.

German authorities fined Volkswagen nearly $1.2 billion Wednesday for its role in a diesel emissions scandal that first surfaced in the United States in 2015.

Prosecutors found the German automaker failed to properly monitor its engine development department. The lack of oversight resulted in global sales of nearly 11 million diesel vehicles with illegal emissions-controlling software.

U.S. authorities previously imposed billions of dollars in penalties on the automaker, which said Wednesday it would accept the fine announced by prosecutors in the city of Braunschweig.

Volkswagen said paying the latest fine would hopefully have "positive effects on other official proceedings being conducted in Europe" against the company and its subsidiaries.

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