Owners of the 482,000 2.0-liter TDI models caught up in the diesel emissions scandal will get cash compensation tied to the age of their vehicle, anonymous sources said today.
Volkswagen won’t release details on its buyback/fix/remediation plan until Tuesday of next week, but sources briefed on the matter blabbed to the media despite a court-imposed gag order. The Associated Press puts the cost of settling the U.S. fallout at $10.2 billion, with some of that money going towards government penalties.
It’s already known that Volkswagen plans to buy back (or fix, at the owner’s request) 2.0-liter diesel models sold from 2009 on. What’s murky is whether the figures quoted by the sources relate to the vehicle buyback or the separate compensation expected to be handed to owners. (Read More…)
If you’ve long since erased the Volkswagen Jetta Hybrid from your memory bank, don’t worry. Buyers forgot about it at the same time, and the automaker is prepared to do the same.
When Volkswagen rolled out a list of changes to its 2017 year vehicles today, the Jetta Hybrid was nowhere to be seen. Instead, the automaker placed a note in its empty chair, reading “Jetta Hybrid no longer available.”
It was an undignified (but not unexpected) end for a very unpopular model — one the automaker doesn’t need weighing it down as it tries to streamline its operations in a bid to save cash. (Read More…)
Let’s hope the cutlery was plastic and the sandwiches didn’t come with toothpicks.
Amid an investigation into the emissions scandal that recently ensnared the company’s ex-CEO and current brand chief, Volkswagen shareholders big and small gathered today to calmly discuss the company’s actions and finances.
By all accounts, the calm didn’t last. (Read More…)
A day after German prosecutors announced an investigation into former Volkswagen CEO Martin Winterkorn, the company’s brand chief was named as the second executive placed under the microscope in their probe of the diesel emissions scandal.
Herbert Diess, the man lured away from BMW last year to oversee the Volkswagen passenger car brand, now gets to enjoy his own investigation, according to Reuters. (Read More…)
The first suspect identified by German prosecutors in their probe of the Volkswagen diesel emissions scandal is none other than the company’s former CEO.
Martin Winterkorn is under investigation for his role in the “defeat device” deception after the country’s financial watchdog demanded it, according to the New York Times. (Read More…)
Volkswagen Group wants to give its operation a top-to-bottom shakeup, which means ditching the bureaucratic, centralized ways of the past and positioning itself as a lean, nimble player in a rapidly evolving marketplace.
Oh, and there will be tons of electric vehicles. Piles and piles of them.
In its announcement of the TOGETHER – Strategy 2025 plan, the automaker came off sounding more like a tech startup, touting a newfound “entrepreneurial mindset and approach” that will bring the company out of the long shadow of the emissions scandal. (Read More…)
There’s been much talk lately about the possibility of Czech automaker Škoda entering the American market, spurred by news of the brand trademarking some model names in the USA.
The idea is that Škoda could complement or even replace Volkswagen on American soil with its larger, cheaper cars. But can it make sense? Can Škoda offer something that VW can’t? Is it better suited to American tastes? And, is it cheap enough? Let’s look at all these question with the eyes of someone who’s familiar both with Škodas and with American cars and consumer tastes.
With its expansion dreams fading fast in the rear-view, Volkswagen needs to shrink and streamline its operations in a hurry, meaning unwanted brands could soon be priced to sell in its driveway.
According to Bloomberg, the automaker plans to conduct a wide-ranging strategy and portfolio review, with details of the strategy expected to go public tomorrow. An asset sale could be in the works, and insiders are already hinting at which brands will be dropped. (Read More…)
As the Environmental Protection Agency readied charges against Volkswagen, the automaker’s employees were told to remove evidence related to the diesel emissions scandal, German media reports claim.
The New York Times says several Volkswagen employees told investigators that just before the scandal broke, someone in a “supervisory position” told them indirectly to remove evidence of the emissions-cheating defeat devices installed in millions of diesel vehicles. (Read More…)
Volkswagen can start hauling the first of 800,000 Passat, CC and Eos models off of European streets after a German regulator granted approval to the automaker’s diesel emissions fix.
The Federal Motor Transport Authority (KBA) says there’s nothing wrong with the plan to bring 2.0-liter diesel versions of those models into compliance with pollution laws. No doubt Volkswagen execs are happy to cross off another thing off their “to do” list. (Read More…)