Volkswagen Says 430,000 New Cars Cheated CO2 Levels

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Volkswagen Says 430,000 New Cars Cheated CO2 Levels

Volkswagen Polo

Update: A spokesman for Volkswagen of America said U.S. cars arent affected. 

Volkswagen announced Friday that more than 400,000 of its cars with “irregularities” in reported carbon dioxide emissions were new cars, which could shed new light on how many more cars the beleaguered automaker would have to pay for.

This month, Volkswagen announced 800,000 cars emitted more carbon dioxide than reported to regulators. Of those cars, Volkswagen announced Friday that 430,000 were 2016 models across many of the automaker’s brands including Volkswagen, Audi, Skoda and Seat. It’s unclear how many older models may be added to the list of cars that emit more carbon dioxide.

When Volkswagen announced it lied about carbon dioxide emissions the automaker estimated that it would cost up to $2 billion to fix.

Volkswagen hasn’t yet announced how much the diesel scandal would cost the company, although some analysts have estimated that the scandal could cost much more than initially estimated. A Barclays analyst said Friday that the scandal could cost more than $26 billion by 2017, according to Bloomberg.

The automaker may meet with banks on Monday to acquire more than $21 billion in “bridge financing” to cope with the financial strain of its growing crises.

The list of cars that could emit more carbon dioxide is comprised of mostly European-only cars and diesel-powered models currently affected by the company’s diesel scandal. Included on the carbon-dioxide list are Volkswagen GTI and Golf R models that were sold in the U.S. but wouldnt be affected, according to a Volkswagen spokesman.

According to Bloomberg, Volkswagen may submit Monday its plan to German authorities to fix 1.6-liter diesel models that have been illegally polluting. That fix for its smaller engines may only be a software update, according to the report.

The automaker has not announced its plans for fixing 482,000 cars affected in the U.S.

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