The CEO of Volkswagen Brands has sought to reassure consumers and investors about a potential fine from the U.S. Department of Justice, telling CNBC that "the situation is under control."
"We're making good progress, and we have stable communication with the agencies in America," Herbert Diess said on Wednesday at the Paris Motor Show, although he stressed that he couldn't comment on the size of the expected fine.
"I'm confident that we will get out of this very soon," he added.
Volkswagen and the Justice Department are in discussions over a settlement to resolve a criminal investigation into the German carmaker, following the diesel emissions scandal which emerged just over one year ago.
Share in the automaker fell on Tuesday following a report that the Justice Department was assessing how big a criminal fine it can obtain from the German carmaker without putting it out of business.
In response, the company issued a statement which asserted the robustness of its financial position and its capability to cover the cost of the emissions scandal, according to Reuters.
Diess stressed that Volkswagen had "significantly" overhauled its corporate governance in the light of the diesel scandal fallout.
"I think we are turning round," he said. "From Paris on, it's going upwards."
He also asserted his confidence in the ability of Matthias Mueller, who was appointed CEO after news of the scandal broke.