Volkswagen has pleaded guilty to fraud, obstruction of justice and falsifying statements as part of a $US4.3 billion ($5.7 billion) settlement reached with the United States Justice Department over the automaker's diesel emissions scandal.
The criminal and civil penalty, if approved by a federal judge, would be the largest ever levied by the US Government against a car manufacturer.
VW has agreed to pay $US2.8 billion ($3.7 billion) in criminal penalties and another $US1.5 billion ($1.9 billion) in civil fines.
The guilty plea comes as the company strives to put the most expensive ever auto industry scandal behind it.
In total, VW has agreed to spend up to $US25 billion ($33.1 billion) in the US to address claims from owners, environmental regulators, states and dealers and has offered to buy back about 500,000 polluting US vehicles.
The emissions scandal erupted in 2015 when US researchers discovered many VW vehicles sold in the US were fitted with software that discretely turned on pollution controls during Government tests and switched them off in real-world driving.
VW at first denied the use of the so-called defeat device but finally admitted to having intentionally cheated on emissions tests in September 2015.
The company admitted about 11 million vehicles worldwide were affected, including almost 80,000 cars in Australia.
The cars affected in Australia include vehicles made by Skoda and Audi, which are subsidiaries of Volkswagen.
The Australian Competition and Consumer Commission (ACCC) initiated proceedings in the Federal Court against Volkswagen, Audi and Audi Australia over the diesel emissions scandal last week.
Emissions scandal a 'calculated offence', says lawyer
Even after admitting to the scandal in 2015, company employees were busy deleting computer files and other evidence, VW's general counsel Manfred Doess acknowledged to US District Judge Sean Cox.
Summing up the scandal, Assistant US Attorney John Neal said it was a "calculated offence", not a "momentary lapse of judgment".
The judge said he wanted more time to study the terms of the punishment negotiated by the US Justice Department, and set a sentencing date of April 21.
"This is a very, very serious offence," Mr Cox said.
Investors in VW stock took the __news in stride after the expected guilty plea, sending shares up slightly in Germany to close up 0.3 per cent at 143.70 euros ($203.51).
The US Justice Department and VW have argued that the company has already agreed to significant restitution.
"Volkswagen deeply regrets the behaviour that gave rise to the diesel crisis," the company said in a statement.
"Volkswagen today is not the same company it was 18 months ago."
AP/Reuters/ABC
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