A Volkswagen executive charged with fraud and conspiracy for his part in covering up the “dieselgate” emissions-cheating scandal has agreed to plead guilty, US officials said Tuesday. Oliver Schmidt, who led the German automaker’s US regulatory compliance office from 2012 to March 2015, will plead guilty at an August 4 hearing at a US federal … Read more
Volkswagen must pay an additional $154 million to California to settle state environmental charges in the latest penalty in the scandal over its use of emissions “defeat devices,” regulators announced Thursday. The sum is on top of $533 million VW already paid to California in the so-called dieselgate conspiracy, in which software allowed cars to … Read more
US officials announced charges against a former manager with Audi — a high-end brand in the Volkswagen group — who directed employees to design software to cheat US emission tests. Giovanni Pamio, 60, an Italian citizen, is charged with conspiracy to defraud the United States, wire fraud, and violation of the Clean Air Act, the … Read more
Two US owners of General Motors diesel pickup models sued the giant automaker on Thursday, claiming it had used emissions-cheating devices similar to those in Volkswagen’s global “dieselgate” scandal. The lawsuit, filed in a Detroit federal court, came the same week that US authorities brought legal action against Fiat Chrysler, accusing the company of likewise … Read more
US environmental regulators on Tuesday filed a lawsuit against automaker Fiat Chrysler, accusing the company of installing devices on its trucks that hid harmful emissions during testing. The company kept the software’s existence from regulators during the certification process for 104,000 3.0-liter light-duty diesel vehicles, according to the Environmental Protection Agency, which filed the charges … Read more
A federal judge in California on Thursday said he would approve a $1.2 billion settlement between Volkswagen and the US authorities over the last 80,000 cars in the company’s emissions-cheating scandal. The development brought the scandal-plagued German auto giant a step nearer to closing the book on the ‘dieselgate’ affair, which rocked the company for … Read more
A US judge on Friday sentenced Volkswagen to pay a $2.8 billion criminal penalty in the diesel emissions cheating scandal, in line with a deal struck between the automaker and the US government. The district court judge in Detroit also placed the German auto maker on three years of probation, settling the US criminal case … Read more
A record number of new cars were registered in March as drivers rushed to beat a new tax that came into force on 1 April. There was an 8.4% rise in sales of new cars from the same time last year – with more than 560,000 new cars registered. The new vehicle excise duty (VED) … Read more
German automaker Volkswagen AG said Thursday it reached a settlement with 10 US states on environmental and consumer claims stemming from its emissions cheating scandal. The company has agreed to pay $157.5 million to the states, including New York, Massachusetts and Pennsylvania, resolving suits by the states against VW for violating emissions standards. “The agreement … Read more
German automakers Mercedes Benz and Volkswagen will recall nearly one million vehicles in China, according to the country’s quality regulator. Mercedes Benz will recall nearly 400,000 vehicles of different models produced between May 2015 and February 2017 due to concerns that parts of the ignition circuitry could overheat under some extreme conditions, according to a … Read more
It has been a year and a half since the diesel emissions scandal at the German carmaker Volkswagen first came to light. Since then, the company has agreed to pay substantial compensation to people in the US who bought cars equipped with illegal software, capable of disguising their true emissions levels. But Volkswagen has not … Read more
Volkswagen AG (VOWG_p. DE) pleaded guilty on Friday to fraud, obstruction of justice and falsifying statements as part of a $4.3 billion settlement reached with the U.S. Justice Department in January over the automaker’s diesel emissions scandal. It was the first time the company has pleaded guilty to criminal conduct in any court in the … Read more
German automaker Volkswagen AG on Friday pleaded guilty to criminal charges in the emissions-cheating scandal, closing an important chapter in the saga that has rocked the company sice 2015. The company in January agreed to plead guilty and pay $4.3 billion in criminal and civil fines to settle charges that it defrauded the United States … Read more
VW and Tata have agreed to form a strategic partnership to help both companies boost economy car sales in India and emerging markets. VW’s Skoda unit will lead the project to develop components and vehicles. VW is looking for new markets as it recovers from its diesel emissions scandal. Tata Motors, which is India’s largest … Read more
The auto industry is facing seismic changes with the rise of electric vehicles, automated driving and car sharing set to eclipse even big mergers such as PSA’s purchase of Opel, executives at the Geneva auto show said. Peugeot maker PSA Group (PEUP. PA) said on Monday it had agreed to buy loss-making Opel from General … Read more
VW expects to post an underlying operating margin of between 6 and 7 percent this year Volkswagen (VOWG_p. DE) forecast broadly stable earnings this year after record sales of luxury Audi and Porsche cars helped it post its highest annual underlying operating profit ever. The carmaker expects to post an underlying operating margin of between … Read more
Despite uproar created by the diesel emissions cheating scandal at Volkswagen, Ford and General Motors are poised to offer new or revamped diesel vehicles to their American customers. It is a bold move, since only 255 diesel cars were sold in the US market in January, compared to the 5,000 to 10,000 a month rate … Read more
Volkswagen faces its first legal action in Germany from a big corporate client over the diesel emissions scandal. Deutsche See, which leases 500 vehicles from VW, said it had been unable to reach an out-of-court settlement, Reuters news agency reported. VW is involved in numerous lawsuits from individual owners, regulators, states and dealers, many of … Read more
Volkswagen AG (VOWG_p. DE) has agreed to pay at least $1.22 billion to fix or buy back nearly 80,000 polluting U.S. 3.0 liter diesel-engine vehicles to settle claims it fitted illegal emissions-cheating software to the cars, court documents showed. German auto supplier Robert Bosch GmbH [ROBG.UL] also agreed to pay $327.5 million to U.S. diesel … Read more
Volkswagen has overtaken Toyota to become the world’s best-selling carmaker, the first time the German company has held the position. Japan’s Toyota, which had topped sales for the past four years, sold 10.175 million vehicles globally in 2016. That fell short of the 10.31 million sales which VW reported last week. The milestone comes despite … Read more