The California regulator that played an important part in uncovering Volkswagen Group’s emissions cheating plot detailed a list of options on how the automaker will be required to spend the $800 million penance by advancing green tech and nonpolluting cars.
Some of the choices the California Air Resources Board came up with are truly terrible. (Read More…)
Fiat heir Lapo Elkann, 39, allegedly faked his own kidnapping during a Thanksgiving weekend bender in order to get ransom money to pay for the drug binge. Elkann, the grandson of the late Fiat Automobiles patriarch Gianni Agnelli, was taken into custody by the NYPD and charged for falsely reporting the incident. (Read More…)
How much can we chop away while keeping the body alive?
The U.S. Justice Department’s plans for Volkswagen’s criminal fine is like a horror movie, only with corporate finances playing the role of a writhing human subject.
According to two sources close to the negotiations, the DOJ wants to extract as much monetary lifeblood from the automaker as possible, while keeping the company afloat, Bloomberg reports. (Read More…)
There’s money to be made when automakers screw up.
Sometimes, being part of a class-action lawsuit isn’t enough, and you’ve got to wage a Charles Bronson-like battle for personal justice. That’s what newly unemployed actor Thomas Gibson is doing. His target? The maker of his Audi SUV. (Read More…)
When the new Kia factory in Nuevo León, Mexico reaches full capacity, 300,000 vehicles will leave the plant each year. At the same time, a jail cell door could slam on the government officials who brought it there.
The former governor of the Mexican state will stand trial on corruption charges linked to the tax deal behind the $1 billion assembly plant, Reuters reports. Prosecutors accuse Rodrigo Medina, along with 30 officials, friends and family members, of draining $196 million from public coffers. (Read More…)
Consider it a low point in German-Korean relations.
Thanks to the diesel emissions scandal, South Korea just decertified about 68 percent of all Volkswagen, Bentley and Audi vehicles sold in that country over the past decade, Reuters reports. The country also revoked the certification of 80 model variants and leveled a large fine, meaning VW’s one-time Asian market breakthrough is truly busted. (Read More…)
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…)
I hate it when people get ripped off. And judging by your reaction to Bark’s piece last week about a dealer in Florida, you hate it too.
The latest con job to be posted to the Interwebs involves someone who’s no stranger to crime: John Hennessey. The Texas-based tuner of extraordinary supercars, Hennessey Performance Engineering, might not be building cars as exclusive as it purports — that is if it builds them at all, reports Jalopnik.
A crime that ends with no one being harmed is a good thing, but a Detroit family spent several agonizing hours waiting to find that out.
Three-month-old Dakota Grimes is back at home after the 2006 Chevrolet Impala she was riding in was stolen from the parking lot of a eastside Detroit convenience store just before 1 a.m. this morning, according to the Detroit Free Press.
Kenneth Feinberg, the man behind Volkswagen’s claims fund, stated American VW TDI customers should expect an offer that will make them very happy in an interview published this weekend.
When asked by Frankfurter Allgemeine Sonntagszeitung (via Reuters) what he will offer the more than 500,000 Americans who own dirty diesels, he replied, “I can promise that there will be a generous solution.”
What that solution will be is anyone’s guess, including Feinberg’s.
“The jury is still out, and at the moment all options are up for debate: cash payments, buybacks, repairs, replacements with new cars,” he said.