#dividends

After Volkswagen announced last week that it would cut dividends by 97 percent due to the financial fallout of the diesel emissions scandal, there’s a ray of light for those who have shares in the company’s owner.

Porsche Automobil Holding SE, the investment vehicle of Volkswagen AG’s ultra-wealthy owner family, said it will front the cash to allow shareholders a bigger return, according to Bloomberg.

Automotive News reports the repairs of some 2.6 million vehicles affected by the 2014 General Motors ignition switch recall will be delayed by one week as the needed part slowly enters into the automaker’s dealership network. Though most dealers thought they would be receiving the part Monday, GM spokesman Kevin Kelly insisted the part was set to arrive sometime during “the week of April 7”:

We plan to send letters this week informing affected customers that parts are arriving at dealerships and to schedule a service appointment with their dealer. Repairs are likely to begin to follow soon after the customer letter mailing.

Until then, dealerships may face service backlogs, especially with affected vehicles already on the lot that cannot be sold until they are repaired, which can only happen once customer vehicles go through the 30-minute swap. On the other hand, while dealers have noticed some frustration from their customers, the majority of their base was found to be patient with the status of the repair plan.