- Title: Audi CEO says his private home not part of prosecutors' raids
- Date: 15th March 2017
- Summary: INGOLSTADT, GERMANY (FILE - SEPTEMBER 28, 2015) (REUTERS) VARIOUS EXTERIORS OF AUDI HEADQUARTERS VARIOUS OF NEW CARS PARKED IN PARKING LOT VARIOUS OF AUDIS IN STREET NEARBY AUDI LOGO ON SIDE OF BUILDING
- Embargoed: 29th March 2017 13:04
- Keywords: Audi emissions VW raid Ingolstadt results
- Location: INGOLSTADT, GERMANY
- City: INGOLSTADT, GERMANY
- Country: Germany
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA002682LGGD
- Aspect Ratio: 16:9
- Story Text: Audi said on Wednesday (March 15) German prosecutors had searched the premises of the luxury carmaker's headquarters in Ingolstadt and a factory in Neckarsulm.
But Chief Executive Rupert Stadler said his private home was not searched.
The raids were in connection with an emissions cheating scandal, adding to pressure on Volkswagen's luxury division and on Stadler.
Audi's supervisory board last month expressed its support for Stadler, who has run the division since 2007, despite criticism of his handling of the scandal.
Munich prosecutors said their investigation was in connection with the sale of around 80,000 Audi diesel vehicles in the United States between 2009 and 2015 on suspicion that they were fitted with devices to cheat on emissions tests.
Sales in European markets are not part of the investigation, the prosecutor's office said in a statement.
Inglostadt-based Audi admitted in November 2015 that its 3.0 litre V6 diesel engines were fitted with emissions control devices deemed illegal in the United States. The prosecutors' searches are the first since the scandal at parent Volkswagen (VW) broke in September 2015.
"I personally have greatest interest in clearing up the issue and it goes without saying that we will fully cooperate with the authorities," Stadler said at the carmaker's earnings press conference.
The carmaker last year increased the provisions for the diesel scandal to 1.63 billion euros and to 162 million euros the costs for recalls of cars fitted with Takata Corp airbags, it said.
Wednesday's news of prosecutors' searches coincided with Audi's release of 2016 results which showed a 37 percent plunge in operating profit to 3.1 billion euros, causing the return on sales to fall to 5.1 percent from 8.3 percent in 2015.
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