Friday, June 24, 2016

US-Volkswagen Agreed to Pay Up to US$7000 to 482,000 Diesel Car Owners

Volkswagen has agreed to pay US vehicle owners an average of about $5,000 apiece to settle claims from its diesel emissions cheating scandal, two people briefed on the matter said on Thursday. The total price tag for the repayments and other fines is said to exceed $10.2bn. Most of the money would go to compensate 482,000 owners of cars with 2-liter diesel engines that were programmed to turn on emissions controls during lab tests and turn them off while on the road, said the people, who asked not to be identified because a judge has issued a gag order in the case.

The company will still have to settle foreign suits over allegations that it lied about its emissions standards, in addition to claims brought by other US agencies. The US justice department is conducting a separate criminal inquiry of the automaker, which could also result in a hefty fine.

Read the full article @ the Guardian

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