Volkswagen’s earnings have plummeted by more than half in the third quarter through September, with subsidiary Porsche adding strong revenue figures. VW released its interim report that showed operating profit had dropped to US$396 million in the third quarter of 2016, in comparison to $801 million VW posted the same […]
Volkswagen dieselgate
Volkswagen backbuy plan settled, record US$14.7 billion
After a marathon five-month trial in the US District Court, Volkswagen’s $14 billion proposed buyback for half a million of its vehicles has been officially approved. The verdict was handed down by Judge Charles R. Breyer of the US District Court, who finalised details of the buyback of vehicles equipped […]
Volkswagen Canada under investigation over dieselgate
Volkswagen’s legal woes continue. Its Canadian arm is being investigated by Canadian environment authorities in regards to violations of the countries’ environmental protection act. Environment and Climate Change Canada spokesperson Malanie Quesnel has confirmed that the ECCC is “actively investigating” several Volkswagen, Porsche and Audi vehicles with a diesel powertrain, […]
Volkswagen to pay $175 million in US class action
Volkswagen has agreed to another costly settlement in the aftermath of the dieselgate scandal, in the form of a US$175 million payout toward a class action lawsuit. According to an Automotive News report, Volkswagen’s legal team agreed to the US$175,000,000 payout to lawyers representing 475,000 owners of VW vehicles that […]
Volkswagen agrees US$1.2b settlement for US dealers
Volkswagen has agreed to a US$1.2-billion settlement with US dealers in the fallout of the dieselgate scandal. A settlement agreement has been filed in San Francisco’s federal court to compensate US-based dealers who claim they lost business to the tune of around $1.85 million each. While a judge is yet […]
Volkswagen sets late-2017 target to fix all Euro dieselgate cars
Volkswagen has committed to a late-2017 deadline for all diesel vehicles impacted by the emissions scandal in Europe, following meetings with the European Commission. As we reported last week, Volkswagen was making relatively slow progress in its attempt to fix TDI engines implicated in the dieselgate scandal, with only around […]
VW has only fixed 10% of cars affected by dieselgate in Europe
Volkswagen remains faced with the challenge of fixing around 90 per cent of the impacted diesel vehicles in the aftermath of the dieselgate scandal. The German manufacturer yesterday made a statement outlining it has repaired less than 10 per cent of the 8.5 million affected vehicles in Europe powered by […]
Volkswagen breaching consumer laws in 20 EU countries – report
The European Commission has reportedly handed down a damning report of Volkswagen’s dieselgate scandal, saying the German auto giant has violated consumer laws in 20 EU countries. German publication Die Welt cited sources within the European Commission in its report claiming that Volkswagen’s cheating on emissions tests and misleading the […]