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Volkswagen may be on the verge of bankruptcy.

VolkswagenGerman Volkswagen Group does not intend to pay the deceived European customers any compensation for “diesel scandal,” said company chairman Matthias Mueller.

The reason for this, according to Muller, is a threat of bankruptcy looming over the concern. Caused losses deceived to customers in Europe would be “simply unbearable” for the company, said the manager.

To eliminate the effects of “diesel scandal” in the US concern had to consent to pay 13.3 billion Euro of compensation, as opposite to honda odyssey headlight. All in all, to settle the consequences of the scandal in the United States concern has allocated 16.2 billion Euro, Muller added.

Although, as he says, the company still has a solid financial cushion, but “the payment of compensation in any amount is too much for Volkswagen”, – said Mueller. In addition, according to Mueller, the demands of European customers to receive compensation are unjustified.