Volkswagen to Enter into a Diesel Emission Settlement with US Brand Dealers

By SiliconIndia   |   Wednesday, 12 October 2016, 05:55 Hrs
cmt right
Comment Right
cmt right
cmt right
Printer Print Email Email

BENGALURU:  The automobile giant, Volkswagen AG has confirmed that the company is willing to make a payment of $1.21 billion to 652 US brand agents for its $16.5 billion diesel emission settlement. The settlement between Volkswagen and dealers also announced that the dealer’s will receive monthly payment of $1.85 million each on average for 18 months.

According to The Times of India, the US Justice Department, Federal Trade Commission and lawyers filed legal papers for the owner’s of the 475,000 pollution diesel cars. The case was registered asking federal judge to grant final approval to buy back offers and diesel remediation efforts on the hearing of October 18.

Since late 2015, the company has also been barred from selling its diesel vehicles in the United States. The legal papers filed by lawyers also proclaim that it is unlikely to sell any of its diesel vehicles in 2016, and 2017.Volkswagen stated that further selling of the diesel vehicles are uncertain in the future. According to the settlement, the company will schedule payments to dealers and also redeem their diesel vehicles that are unable to push for a sale and even set aside the capital improvements for two years.

Looking into the technical solution, Volkswagen will buy-back around 85,000 vehicles equipped with 3.0 litre diesel engine if the regulators are not convinced. Thomson Reuters also reported that there was a recent talk held with the Justice Department about settling of the investigation. In return the Justice Department filing stated that “The United States will continue to vigorously pursue its claims for civil penalties to fully hold (Volkswagen) accountable”.

In contrast, VW also acknowledged that improper software was used to activate pollution controls and the total number of vehicles affected exceeded 11 million diesel vehicles that were sold worldwide.

Read Also:
Maruti Suzuki Plans To Export The Baleno To 100 Markets Globally
Concept Cars that Remained a Dream

Startup City
India Accelerator, a GAN partnered, mentorship-driven, acceleration program hosted ‘The Inner Ci..
US Indian
An Indian-American teenager has been conferred with the 2019 National STEM (Science, Technolog..
First things first. "Made In Heaven" is the sexiest webseries India has produced, no doubt about i..
IIT Roorkee organized an MoU exchanging ceremony between the Govt. of India Department of Scie..
Enterprise IT
PayByPhone, the global leader in mobile parking payments, today announced that it will appoint And..
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suffere..
Chipset-making giant Qualcomm has listed chipsets such as Snapdragon 855, 845, 710, 675 and 67..
The Department of Telecommunications (DoT) in consultation with the Finance Ministry plans to spli..
Hinduja Global Solutions here on Monday said it has set up a centre of excellence to train disable..