Volkswagen AG’s (VOWG_p. DE) dealers will receive an average of $1.85 million in a $1.2 billion settlement approved by a U.S. judge on Monday over its diesel emissions scandal. U.S. District Judge Charles Breyer said the 650 U.S. dealers would be paid over 18 months, ruling the settlement “fair, reasonable, and adequate.” VW also agreed … Read more
Shares in German carmakers BMW, Volkswagen and Daimler have fallen after Donald Trump warned that cars built in Mexico would be taxed at 35% if they were exported to the US. The President-elect said he would advise car firms “not to waste their time and money” by building factories in Mexico. If BMW sold cars … Read more
Volkswagen has agreed to plead guilty to U. S. charges it cheated on diesel emissions tests for a decade, accepting the largest fine on an automaker ever, while a federal grand jury indicted six former VW executives for involvement in the conspiracy. Five of the six former Volkswagen executives are in Germany and it is … Read more
European carmakers were drawn into widening investigations into diesel emissions cheating on Friday, with French prosecutors examining Renault and British authorities seeking answers from Fiat Chrysler Automobiles NV. Volkswagen’s VOW_p. DE admission that some of its diesel vehicles were fitted with devices which hid their true level of emissions has sparked a global regulatory push … Read more
The UK Department for Transport has asked for details of a US probe into Fiat Chrysler diesel emissions software as a matter of urgency. The car maker has been accused of not telling authorities about software that could allow excess diesel emissions. The US Environmental Protection Agency (EPA) said 104,000 Jeep Grand Cherokees and Dodge … Read more
Fiat Chrysler shares fell more than 13% in New York on the news. Fiat Chrysler has been accused of not telling authorities about software regulating emissions in thousands of its diesel vehicles. The US Environmental Protection Agency (EPA) said the company broke the law by installing, but failing to disclose, the technology in more than … Read more
Volkswagen has agreed a draft $4.3bn (£3.5bn) settlement with US authorities over the emissions-rigging scandal. The German car maker also said it would plead guilty to breaking certain US laws. VW said it was in advanced discussions with the Department of Justice and US Customs about the deal. The final agreement has yet to be … Read more
German car giant Volkswagen has said it sold a record 10.3 million vehicles worldwide last year, despite the continued impact of 2015’s emissions cheating scandal. The VW group saw sales increase by 3.8% in 2016, making it likely that the firm will overtake Toyota as the world’s biggest carmaker by volume. The sales figures include … Read more
A British law firm has launched legal action against Volkswagen (VOWG_p. DE), seeking thousands of pounds of compensation each for UK drivers affected by the carmaker’s emissions scandal. The German company is involved in lawsuits in several countries and is racing to resolve criminal and civil allegations with the United States’ Department of Justice after … Read more
Volkswagen has struck a deal with the US authorities over some 80,000 VW, Audi and Porsche cars with 3-litre diesel engines. The agreement is another step towards allowing the German car maker to put the emissions cheating scandal behind it. In June VW agreed to a $15bn (£12.1bn) settlement for another 475,000 vehicles affected by … Read more
Automaker Volkswagen said Friday it will shed 30,000 jobs to cut costs as it tries to recover from its diesel emissions scandal and invests more in electric-powered vehicles and digital services. Company officials said at a news conference at headquarters in Wolfsburg, Germany, that 23,000 of the job cuts will come in Germany. It said … Read more
Volkswagen on Friday announced the biggest revamp in its history, cutting 30,000 jobs in a huge savings plan to help it recover from the dieselgate emissions cheating scandal. The deal, agreed with labour representatives after months of tortuous negotiations, will lead to annual savings of 3.7 billion euros ($3.9 billion) by 2020, VW brand chief … Read more
Car giant Volkswagen says German prosecutors have expanded their probe of the emissions scandal to include the firm’s chairman of the board. Hans Dieter Poetsch was chief financial officer when the scandal over cars rigged to cheat on US diesel emissions tests broke in September 2015. VW said prosecutors in Braunschweig were investigating two members … Read more
Volkswagen AG (VOWG_p. DE), in another step to move past its costly diesel emissions cheating scandal, has agreed to pay $175 million to U.S. lawyers suing the German automaker on behalf of the owners of 475,000 polluting vehicles, two people briefed on the agreement said on Friday. In August, the lawyers in the class action … Read more
Ghanaian Civil society group, the African Centre for Energy Policy, ACEP, has revealed through its partners, a Swiss NGO, Public Eye, how Swiss commodity trading firms are exporting what they call ‘dirty diesel’ to Africa. ACEP in a statement signed by its Deputy Executive, Benjamin Boakye, made this known in a report it launched on … Read more
Ghanaian Civil society group, the African Centre for Energy Policy, ACEP, has revealed through its partners, a Swiss NGO, Public Eye, how Swiss commodity trading firms are exporting what they call ‘dirty diesel’ to Africa. ACEP in a statement signed by its Deputy Executive, Benjamin Boakye, made this known in a report it launched on … Read more
Australia is suing the local arm of Volkswagen for allegedly misleading customers by selling modified vehicles that covered up emissions fraud. Its consumer watchdog claims Volkswagen intentionally sold more than 57,000 such vehicles over a five-year period. The Australian Competition and Consumer Commission (ACCC) is seeking a public declaration of misconduct, financial penalties and corrective … Read more