Nope. Nuh-uh. Not gonna do it.
That was Volkswagen’s reaction to the idea of publishing its first-quarter results on time, according to Automotive News Europe, meaning the automaker’s current financial standing will be unknown until May 31.
The beleaguered company has bigger things to deal with in the near term — mainly, meeting the U.S. government’s April 21 deadline for a fix for vehicles caught up in the diesel emissions scandal. An April 21 deadline was issued last month by U.S. District Judge Charles Breyer, extending a missed deadline on a one-time-only basis. (Read More…)
The New York Times says U.S. states attorneys general are accusing Volkswagen from withholding critical documents from their investigations into the automaker’s admission that more than 500,000 cars and SUVs in the U.S. were illegally polluting.
The report says that Volkswagen is citing a notoriously strict German law that protects data and documents from investigations overseas, and that their own investigations have stalled — similar to what federal regulators said when they filed a lawsuit against the automaker on Monday seeking billions.
Volkswagen didn’t comment on the report. (Read More…)
Man, people are really pumped about the cool, expensive cars they just bought.
That nugget of wisdom, Russia’s perpetual Cash for Clunkers program, VW’s appeal to Colorado and Washington buyers and GM’s knows what way the wind is blowing now … after the break! (Read More…)
Many car buyers don’t like it when car dealers put hard to remove dealer decals on their new cars. Now a Texas plumber is suing a dealer for not removing decals advertising his plumbing business from a traded-in truck.
When Mark Oberholtzer, who owns Mark-1 Plumbing in Texas City, Texas, traded in his Ford F-250 Super Duty pickup on a new truck at AutoNation Ford Gulf Freeway in October 2013, he says he started to remove the decals — but a dealer employee stopped him.
Oberholtzer now claims, in a $1 million lawsuit recently filed against the dealer, that a salesman said removing the decals would blemish the paint and the dealer had “something better for removal”. (Read More…)
Analysts are estimating that more than 400 lawsuits (for now) pending against Volkswagen for fraudulent “clean diesel” claims could cost the automaker billions in court — if they even go that far.
Bloomberg reported (via Automotive News) that as lawyers for owners and Volkswagen wrangle over where to eventually hold a consolidated trial against the automaker, many analysts believe Volkswagen — who has already admitted to committing fraud — may end up paying at least $1.5 billion to customers, before damages or a potential buy back. That figure could rise to $8.9 billion if Volkswagen has to buy back their cars, according to Bloomberg Intelligence analyst Brandon Barnes.
(Presumably, those billions would be spent outside of a single wrench being turned on one of its illegally polluting cars.)
Volkswagen of America CEO Michael Horn told a congressional committee Thursday that the fixed diesel cars would achieve the fuel economy figures advertised on the cars when they were purchased as new.
“We know we can fix these vehicles to achieve emissions standards,” Horn said.
Horn said that performance such as horsepower and torque for the cars could be impacted, but by keeping those cars at or above advertised mileage, the carmaker could mitigate damage brought by forthcoming class-action and federal lawsuits. (Read More…)
A group of General Motors shareholders found their lawsuit over the February 2014 recall dismissed in Delaware Monday due to lack of evidence.
Texas software company Versata is suing former partner Ford over claims the automaker stole code from its proprietary technology.
Per a bankruptcy court ruling Wednesday, General Motors won’t be on the hook for pre-bankruptcy claims linked to the February 2014 ignition recall.
After two weeks of deliberation, a jury in Decatur County, Georgia has found Jeep liable for the 2012 death of a 4-year-old involving a 1999 Grand Cherokee.