Volkswagen's Brand Boss Says A Deal With U.S. Is Coming In Months
Volkswagen brand chief Herbert Diess said in an interview with German newspaper Wolfsburger Allgemeine Zeitung that it could take months, not weeks for an agreement to be reached between Volkswagen and U.S. regulators.
"I believe we have good chances to achieve an agreement with the authorities in the United States in the next months," said Diess.
This comes a couple weeks after a U.S. Federal judge gave Volkswagen a deadline of March 24th to give a status update as to a possible fix. Diess' comment could mean the German automaker will miss the deadline.
Why months and not weeks?
The problem may lie in Volkswagen not having enough money to cover fines, repairs, and court costs. In the interview, Diess talked about how the Volkswagen brand needed to save money and earn more profits. Reuters says a twelve-point plan to cut costs and give more autonomy to each of the brand's regional operations will be announced sometime next week.