Tag: settlement

By on September 19, 2018

Sprinkle a bag of cash on an area and what happens? The highest authority in said area collects it all and then decides how to dole it out. And, just like at a children’s birthday party, the squabbling soon begins — usually sparked by one guest complaining that another got a larger slice of cake.

That’s what’s currently happening in Texas, where a city with dirtier air claims it’s being short-changed after seeing the windfall headed to a smaller, cleaner city. No fair! (Read More…)

By on February 5, 2018

2016 Ram 1500 Laramie Crew Cab 4x4 EcoDiesel

Fiat Chrysler Automobiles might need the 2019 Ram 1500’s newly increased payload capability when it comes time to visit the bank.

As we’ve told you since the scandal broke a year ago, FCA could find itself on the hook for hefty penalties after the Environmental Protection Agency slammed it for failing to declare a bevy of auxiliary emission control devices on its 3.0-liter diesel V6 engine. With the 2017 and 2018 Ram and Jeep EcoDiesel models now in compliance, the question becomes: what does FCA pay to settle the fallout?

According to documents obtained by Bloomberg, it seems the monetary fine sought by the U.S. Justice Department might not fit in the pickup bed. (Read More…)

By on December 20, 2017

2016 Ram 1500 EcoDiesel HFE, Image: FCA

Fiat Chrysler Automobiles secured permission to sell 2017 Ram 1500 EcoDiesel and Jeep Grand Cherokee EcoDiesel models in late July, but it could be nearly a year from that date before owners of 2014-2016 models can breathe easier.

In its bid to satisfy a very angry Environmental Protection Agency, FCA agreed to remove undeclared auxiliary emission control devices from its 2017 3.0-liter diesel vehicles and offer a fix for the 104,000 already on the road. Satisfied that nitrogen oxide (NOx) levels would stay within legal limits, the EPA gave the automaker the green light. With certification in hand, new EcoDiesels began appearing on dealer lots by the end of September.

The story doesn’t end there, however. Numerous Ram and Jeep EcoDiesel owners want FCA to pay up, and it’ll be many months before FCA fixes any of their vehicles. (Read More…)

By on May 11, 2017

Porsche cayenne diesel

Is was probably with a sigh of relief that U.S. District Judge Charles Breyer granted final approval to a settlement for owners of 3.0-liter diesel Volkswagen Group vehicles earlier today. The issue has consumed no shortage of court time both before and after last December’s preliminary approval for a buyback, compensation and fix plan.

More than 80,000 Volkswagen, Porsche and Audi models were sold with engines rigged to cheat on emissions tests. Many of those units will now be bought back and others fixed — a plan with a minimum $1.22 billion price tag.

Breyer’s approval marks the end of the automaker’s main legal wranglings in the U.S. It also opens the cash floodgates, as even owners who opt for a fix will see a pile of crisp, clean dollars from VW. (Read More…)

By on April 22, 2017

2015 Volkswagen Golf family, Image: Volkswagen of America

April has brought good news to diesel lovers and haters on both sides of the border.

After spending the winter (and the better part of last fall) jealously eyeing their southern neighbor’s buyback and compensation program, Canadian owners can now apply for that longed-for envelope of Volkswagen cash, as well as a one-way-ticket to hell for their emissions-rigged TDI model.

On Friday, the automaker settled court cases in Ontario and Quebec, paving the way for a 2.0-liter diesel settlement program that starts next week. The models involved are the same as in the U.S. — 105,000 units in all — and owners and lessees face similar choices as their American counterparts.

Unlike the recent shadowy roll-out of half-fixed 2015 models in the U.S., several Canadian dealers are proudly advertising the availability of “new” TDIs. (Read More…)

By on February 1, 2017

2014 Audi A7 TDI (11 of 34)

Owners of certain Volkswagen, Audi and Porsche vehicles caught up in the diesel emissions scandal will receive hefty payouts, even if their vehicles aren’t bought back by the manufacturer.

Volkswagen and supplier Robert Bosch GmbH have agreed to a settlement worth a combined $1.55 billion, Reuters reports. The agreement covers about 80,000 vehicles outfitted with emissions-cheating 3.0-liter diesel V6 engines — 20,000 of which will return to the automaker for good.

While parting with a beloved luxury vehicle can be difficult, cold hard cash has a way of softening the emotional blow. (Read More…)

By on December 20, 2016

2014 audi a6 tdi engine

After a seemingly endless legal drama, Volkswagen AG has reached an agreement with the U.S. owners of roughly 83,000 emissions-cheating VW, Porsche and Audi vehicles equipped with 3.0-liter diesel engines.

Like the earlier settlement for 2.0-liter defeat device-equipped models, this agreement includes a combination of buybacks, fixes and cash payments. Owners of 2.0-liter models have long since counted their “we’re sorry” money, but these buyers will have to wait just a bit longer before finding out what payment to expect for their premium ride.

It’s not a small sum, apparently. (Read More…)

By on November 21, 2016

2008_09_01_09_Tacoma_ACab (1)

Rust, as Neil Young once said, never sleeps, and neither will Toyota — at least, not until it has fulfilled its 12-year promise to inspect and replace (if necessary) hundreds of thousands of corroded truck frames.

Toyota has agreed to pay up to $3.4 billion to appease owners of several previous-decade truck models who launched a class-action lawsuit against the company. Replacing those severely rusted frames won’t be an easy task, and there could be plenty of vehicles needing a completely new skeleton. (Read More…)

By on October 25, 2016

money (401(k) 2012/Flickr)

Is there something in diesel fuel that makes Volkswagen owners feel they’re extra, extra special? They’re clearly a hard bunch to please, as the judge overseeing the automaker’s U.S. diesel emissions settlement is tired of hearing their demands for more, more, more.

After a year of wrangling, District Court Judge Charles Breyer has approved the $14.7 billion deal, setting in stone the buyback program and cash settlements to owners and U.S. regulators. Sure, the company’s diesel vehicles pump out up to 40 cars’ worth of pollution each, but how much cash are owners expecting to collect? (Read More…)

By on October 1, 2016

Volkswagen logo badge (Francis Storr/Flickr)

Volkswagen AG is making nice with its once-ornery U.S. dealer network to the tune of $1.85 million per dealer.

The automaker announced details of its $1.21 billion dealer settlement late yesterday, Reuters reports, with cash payouts to its 652 dealers spread out over the next 18 months. Meanwhile, once-loyal Volkswagen owners have hopped on the buyout bandwagon in big numbers. (Read More…)

By on August 30, 2016

2015 Volkswagen Jetta TDI (3 of 8)

Faced with the option of waiting to see if their cars can be fixed or accepting a hefty cash payout, diesel Volkswagen owners are opting to take the money and run.

Once-fierce loyalty to the dirty “clean diesels” seems to have evaporated, as most owners who’ve registered for the settlement want the automaker to buy back their car, Automotive News reports. (Read More…)

By on August 25, 2016

2016 Volkswagen Passat (6 of 14)

America’s Volkswagen dealers took the brunt of the automaker’s diesel emissions scandal, but a cash payout designed to ease their troubles is on the way.

Lawyers for the dealers, who were once poised to revolt against their employer, announced a tentative settlement deal with the automaker today, Reuters reports. (Read More…)

By on June 28, 2016

globe (Mark Gollner/Flickr)

Imagine for a second that the cash Volkswagen must now spend to get itself out of trouble in the U.S. was a pile. It would be a great day for tobogganing.

The initial settlement for the diesel emissions scandal — vehicle buyback, compensation, make-the-air-nice-again programs — rings in at $14.7 billion, but the automaker has roughly $18 billion set aside to handle all of the American fallout.

When it comes to cash, the bigger the number, the harder it is to imagine what that figure really looks like. What could it buy? How many bananas is that? Well, there are countries that make less money in a year than Volkswagen, maker of the Jetta, just paid out to one country. (Keep in mind, there’s more countries waiting in the wings for their cash.) (Read More…)

By on June 28, 2016

tdiengine

With the settlement now filed with the courts between Volkswagen, regulators, and other plaintiffs in the ongoing diesel emissions scandal, the United States District Court Northern District of California has published the exact figures for buy backs and settlement figures.

Click the jump to find out how much money you’ll receive for your affected Volkswagen and Audi 2.0-liter equipped TDI.

(Read More…)

By on June 28, 2016

Money (Frankleleon/Flickr)

Christmas is coming early for owners of polluting Volkswagen TDI models now that the automaker has agreed to pay up to $14.7 billion to settle claims in the diesel emissions scandal.

Volkswagen’s settlement with the federal government, owners and regulators will see it buy back some 475,000 2.0-liter diesel vehicles in the U.S. at pre-scandal values and offer their owners up to a cool $10,000 in extra compensation, according to figures reported by the New York Times. (Read More…)

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