Volkswagen said it no longer faces potential damages of as much as $2.2 billion. (Photo: Shutterstock)

(Bloomberg) — Volkswagen AG all but eliminated one front in the pollution scandal that has plagued the carmaker for nearly three months, after the company’s suspicions of illegal discrepancies in carbon-dioxide emissions proved unfounded.

Only “slight deviations” were found in a fraction of the 800,000 cars involved in the CO2 investigation, the Wolfsburg, Germany-based company said in a statement Wednesday. While there may be a “minor economic impact” from the issue, Volkswagen said it no longer faces potential damages of as much as 2 billion euros ($2.2 billion). The shares closed up 6.2%, the most since Nov. 30, to 131.75 euros in Frankfurt.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.