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Volkswagen’s multi-billion-dollar make-nice deal with U.S. regulators and owners was given a tentative green light today, after a federal judge gave the settlement his preliminary approval.
The San Francisco hearing is the first of two, and approval of the $14.7 billion buyback and compensation plan could get a full go-ahead on August 25. The hearing shed light on what owners of defeat device-equipped diesels can expect in the coming months. Read More >
Brazilian media sources say kidnappers are demanding a huge ransom for the safe return of Formula One boss Bernie Ecclestone’s mother-in-law.
The São Paulo kidnapping of Aparecida Schunck, mother of Ecclestone’s wife Fabiana Flosi, was reported in Veja and Globo, according to the BBC. The assailants are asking for $36.5 million. Read More >
Fiat Chrysler Automobiles stopped inflating monthly sales figures after uncovering the practice last year, according to sources within the automaker.
The two insiders told Automotive News that the practice, which involved artificially boosting sales numbers before rolling them back the following month, was discovered by an internal review in mid-2015. FCA sales chief Reid Bigland reportedly put a stop to the practice.
FCA is now under investigation by the U.S. Department of Justice and the Securities and Exchange Commission. Read More >
Frustrated by congestion and unsafe lane changes, state governments are telling left lane drivers to get the lead out.
Tennessee rolled out a new law on July 1 that dings drivers $50 for driving too slowly in the left lane, joining a growing list of states that want to free up the go-fast lane through penalties. The days of drivers coasting along at (or slightly under) the speed limit in the passing lane are waning, and that’s a good thing. Read More >
If you’re anything like the writers at TTAC, Pokémon Go is a strange and scary thing, like what those teenagers might be doing over there.
We’ve avoided writing about the misadventures associated with the nerdy phone app — grown men falling off cliffs, kids finding corpses, awkward romantic escapades — but a moron in Baltimore tipped our hand.
Two nights ago, a Baltimore police officer’s body camera captured a Toyota RAV4 colliding with his parked cruiser. The young male driver, who clearly couldn’t figure out how to cover his ass, immediately admits to playing Pokémon Go behind the wheel.
Read More >
Volkswagen diesel owners will be able to spend many happy, polluting miles on the road, even after they request a fix instead of a buyback.
Buried in the automaker’s $15.3 billion U.S. settlement is the expectation that most of the recalled vehicles will still spew twice the allowable rate of emissions after being repaired, according to Bloomberg. A fix for the 475,000 2.0-liter diesels hasn’t been approved, but regulators fully expect any repair plan to fail — and they’re grudgingly okay with it. Read More >
The state of New York wants its pound of flesh from Volkswagen, as well as $450 million.
A lawsuit filed against the automaker by New York Attorney General Eric Schneiderman alleges widespread knowledge of the emissions-cheating “defeat device” used in millions of diesel vehicles, according to the Wall Street Journal. Read More >
Fiat Chrysler Automobiles is in hot water with federal authorities over the way it reports its sales.
Late yesterday, it was revealed that the U.S. Department of Justice and the Securities and Exchange Commission both launched investigations into the automaker, following months of accusations of inflated sales figures. Read More >
Two U.S. Ford dealerships are beyond frustrated with Saleen Automotive after the performance sportscar manufacturer failed to deliver its signature modified Mustangs on time.
According to Automotive News, Red McCombs Ford of San Antonio filed a lawsuit alleging breach of contract and fraud after the three Saleen Mustangs it ordered arrived six months late missing $22,000 in modifications. Friendship Ford of Bristol, Tennessee hasn’t received a Saleen Mustang it ordered over a year ago. Read More >
Business is about to get much more expensive for automakers with thirsty fleets.
The penalties leveled by the National Highway Traffic Safety Administration against automakers who miss their annual corporate average fuel economy (CAFE) standards are about to go up in August. Way up. Read More >