Volkswagen AG is expected to pay up to USD$15 billion (more than RM61 billion) as settlement to owners of diesel Volkswagen vehicles, as well as government regulators due to its diesel emissions cheating scandal. This will likely be one of the largest consumer class-action settlements ever in the United States.
According to reports by Reuters and The New York Times, the settlement includes a maximum of USD$10.03 billion (around RM40 billion) to buy back about 475,000 affected Volkswagens from owners at pre-scandal prices. Additionally, a separate settlement with US state attorneys is expected to be more than USD$500 million (around RM2 billion).
For vehicle owners, a cash compensation will likely be offered to each, ranging from USD$5,100 (RM20,776) to USD$10,000 (RM40,747). Previous owners who may have sold their diesel vehicles after the scandal became known last year are also eligible for compensation, but at only half the rate of the compensation being offered to current car owners.
Owners will have until December 2018 to decide whether to sell back vehicles or have their vehicles fixed to meet emissions standards. Even so, regulators have yet to approve fixes for Volkswagen vehicles fitted with the 2.0 litre turbocharged four-cylinder diesel engine. There are three generations of said engine fitted in vehicles from the year 2009-2015, all possibly requiring different fixes.
Even after the imminent announcement, Volkswagen must still come to a consensus with US regulators on whether it will offer to buy back 85,000 larger Porsche, Audi and Volkswagen cars and SUVs due to the 3.0 litre TDI V6 engine, where it was discovered that the engine’s nitrogen oxide (NOx) emissions is up to nine times of the EPA’s standard.
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Albert says cannot persoal his foreign overlords or he will potong the kepla of whomever who dare to persoal. So I wun persoal.
Honda no announce settlement for bursting airbags scandal??
I think VW better close shop especially in Malaysia a country we emphasize so heavily much on environmental pollution.
Saying Volkswagen is in deep sh*t would be an understatement. 15 bil is only for the States. The settlement for European countries are not yet revealed.
What about Malaysia? is VGM also going to give compensation or a buy back? Malaysian VW buyers has had it worse than dieselgate. the VW cars in Malaysia are inherently faulty and defective due to their DSG.
So Malaysians actually suffer more than the Mat Salleh dieselgate victims in the US. At least the US dieselgate victims don’t need to go into SC non stop or break down in the iddle of the highway every other month.
Kunta Kinte, get your priorities right and bark on Honda for compensation on the live loss due to the Takata airbag incidents. Whatever “suffering” by VW owners is nothing compared to the lives lost in a Honda.
The kunta kinte already gone back to his country after talking so much rubbish and trying hard go stir angry political comment here.
I am prepared to make the $15 billion payment in return for equity in VW. Looks like a good platform to sell my facial skin whitening products as part of an integrated offering. I’m going to lead the next wave of disruptors, Tesla you have been warned.
U can bet he’ll be back. After all, they sure r angry after losing Sarawak, Sg Besar and Kuala Kangsar.
Thats 3 strikes in a row, and in baseball terms: YEERRRR OUUTT!
poor john, everything is a game for you. Sendiri kena tipu pun tak tahu! bangang!
When DSG breakdown easy, blame MY hot weather for unsuitable to use DSG.
When dun replace airbags fast enuff, blame the owners.
When dun get enuff votes, blame the voters.
See the game, play the game.
poor john, so bored, can dislike people so many times. So free ah john? Oh I forgot, after this you will go back to sleep again. Sleeping on the job is okey kan?
See the game play the game, little boy
$15b to settle dieselgate which did not causing and death. Then what about Takata?
They can use USD15 trillion to settle but the brand name has been damaged beyond repair