Volkswagen has reportedly delayed its 2015-calendar-year financial disclosures amid ongoing uncertainties surrounding the potential costs of the TDI emissions scandal.
Some automakers attempt to write off estimated losses early in any given crisis, allowing the companies to begin managing the financial fallout before the final costs have been tallied. General Motors used such a strategy when dealing with the ignition-switch crisis, logging billions in estimated recall and litigation costs before the repair campaigns were complete and the victim compensation program had stopped accepting applications.
VW executives are still debating the accounting strategy for the diesel emissions debacle, according to Reuters. The report suggests at least some of the costs may be reflected in the company’s fourth-quarter earnings report.
“Volkswagen Aktiengesellschaft will set a new date for the publication of the annual accounts for fiscal year 2015 due to remaining open questions and the resulting valuation calculations relating to the diesel emissions issue,” the company said in a statement to investors. “In this regard, Volkswagen will achieve the best possible transparent and reliable outcome for its shareholders and stakeholders.”
Despite the delay in financial disclosures, the company has reaffirmed its commitment to release findings of its internal investigation by the second half of April.
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