Volkswagen AG is asking for a final sign-off on its $14.7 billion settlement with drivers as it continues to seek regulators’ approval of a fix for 482,000 pollution-spewing vehicles still on U.S. roads. Without an approved repair, VW may be left with only one option: buy back the cars with so-called defeat devices from the owners. And the German automaker might have to do the same for a …
Volkswagen AG, in another step to move past its costly diesel emissions cheating scandal, has agreed to pay $175 million to US lawyers suing the German automaker on behalf of the owners of 475,000 polluting vehicles, two people briefed on the agreement said on …
In March, six Volkswagen retailers came together with the mission of negotiating an out-of-court settlement with the factory to compensate their fellow dealers for losses from the diesel emissions scandal, and averting what they feared would be messy litigation against their business partner. But when such a deal finally came together last week, it was disclosed by someone else: Steve Berman, a …
Canadians should not expect the federal government to collect any cash from Volkswagen as a penalty for lying about emissions levels. In late June, the United States government announced a US$15.3-billion civil settlement with the German automaker that included US$2.7 billion for the public sector to spend on environmental mitigation efforts. Several diesel-powered VW models had so-called …
A German court will adopt a rarely used class-action style procedure to more efficiently process claims by investors seeking damages from Volkswagen over a diesel emissions cheating scandal, according to a ruling. The regional court in Braunschweig near Volkswagen’s (VW) Wolfsburg headquarters said on Monday it will pick one case to act as a model to help resolve as many as 170 …
The whole Dieselgate scandal has done a number on Volkswagen financially. Despite my harsh words for the company in the past over the scandal, I’m starting to feel bad about for it. It’s been hit for billions here in the U.S., and there are more lawsuits coming down the pipe than I can shake a stick at.
The class-action settlement agreement proposes using what is essentially the wholesale value of the vehicle at the time of sale, rather than the retail value. The wholesale value of a vehicle can range from hundreds to thousands lower than the retail value. Wholesale cost is the price dealers pay when they buy cars at auction.
Volkswagen diesel owners aren’t the only ones affected by the VW’s ongoing emissions cheating scandal. The company’s dealers have acutely felt the impact of the scandal, in the form of deflating sales figures. The proposed settlement announced last month offers cash payments to owners of 2.0-liter TDI models, who can either …
Hundreds of Hawaii drivers will be getting money back from a $10 billion settlement with Volkswagen. The settlement involved consumer protection claims raised by a multistate coalition of State Attorneys General in 43 states and jurisdictions against Volkswagen AG, Audi AG, and Volkswagen Group of America, Inc., Porsche AG and Porsche Cars, North America, Inc. – collectively referred to as …
Volkswagen has agreed to pay Texas $50 million in connection with the German automaker’s admitted peddling of diesel vehicles rigged to surpass emissions limits, Attorney General Ken Paxton announced Tuesday. The partial settlement is part of a larger, multi-billion dollar agreement unveiled Tuesday that awards hundreds of millions of dollars to dozens of states and includes a $10 billion buy- …