Audi expects no more diesel scandal provisions in 2018

BERLIN -- Audi expects no further provisions for its part in parent Volkswagen Group's diesel-emissions cheating scandal this year after setting aside a total of 2 billion euros ($2.47 billion) in 2016 and 2017, its finance chief said.

VW Group's main profit engine developed the bigger 3.0-liter V-6 diesel engines used in about 80,000 VW, Audi and Porsche models that in 2015 were found to have been equipped with illicit software that helped them achieve favorable results during emissions testing. Those engines, however, were found to have greatly exceeded pollution limits while driving.

Audi has to date paid out more than half the provisions and expects to transfer an outstanding 900 million euros by the first quarter of 2019, CFO Alexander Seitz said on Thursday at the automaker's financial result press conference.

Separately, Audi sales chief Bram Schot said the luxury carmaker is targeting a share of electric-car sales of between 30 and 35 percent of its overall deliveries by 2025 when it plans to offer about 20 electrified cars.

Audi also has no plans to start building cars in the United States though will review its production strategy every year, CEO Rupert Stadler said.

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