Latest news

« »

Monday, 3 October 2016

VW's $1.2billion settlement with US dealers - Car Dealer Magazine

Car Dealer Magazine reports that VW has finalised a settlement, agreed in principle on 25 August, with 652 US dealers over claims arising from the emissions scandal involving TDI vehicles, and other matters. The setlement must now be approved by Judge Charles R. Breyer in the US District Court for the Northern District of California, who is presiding over the federal multi-district litigation.

Dealers are set to receive an average of $1.8 million over 18 months and in addition to the cash payments will also get additional benefits to resolved alleged past, current and future claims of losses in the value of the franchise.

The manufacturer stresses that the agreement is not intended to affect any of its obligations outside the US. It maintains that obligations relating to diesel cars in other jurisdictions are different.

No comments:

Post a Comment