VW says it is weighing up whether to appeal record penalty, which was handed down after judge rejected earlier dealGerman auto giant Volkswagen AG says it is weighing up whether to appeal an Australian record $125m fine for deceiving customers and breaching diesel emissions standards, stating that it believed an initial $75m penalty agreed with the ACCC was “fair”. The carmaker already settled a separate Australian class action in September for between $87m and $129m, and said in a release it was considering an appeal of the fresh $125m penalty. On Friday, ACCC chair Rod Sims said Volkswagen AG’s conduct had been blatant and deliberate but he made no mention of the previous $75m agreement with the company. The $125m fine comes as Australia’s corporate regulator begins civil proceedings in the federal court against a unit of Volkswagen AG for allegedly not making appropriate checks before giving out 49,380 loans to consumers. The Australian Securities and Investments Commission has alleged that Volkswagen Financial Services Australia did not make required inquiries into borrowers’ living expenses or if the loans were unsuitable for them.

Source: The Guardian December 20, 2019 03:00 UTC