qr-play-store play store

Volkswagen's huge settlement announced!

27 Jun 2016
No comments
869 views
Volkswagen's huge settlement announced!

The fuel-emissions scandal of Volkswagen continues. Did you know that Volkswagen AG's settlement for about 50,000 owners and government regulators over polluting vehicles is valued at more than $15 billion cash? That amount is very high even for such a powerful company as Volkswagen.

 

 

We will know more precisely about this settlement on Tuesday in Washington, when it will be announced that the company has to return to the owners $10.033 billion over diesel emissions of about 475,000 vehicles and approximately $5 billion in funds to offset excess diesel emissions and boost zero emission vehicles. The expected settlement is going to be more than $500 million and will push the total to over $15 billion. Volkswagen isn't commenting on these news yet but a source revealed that each owner of 2.0 liter diesel VW 2009-15 cars will receive at least $5,100 as a compensation along with the estimated value of the vehicles as of September 2015. Some owners will get $10,000 in compensation, it all depends on the value of the car.

 

 

The actual amount VW needs to pay could be less if a large number of owners take buybacks. Prior owners will get half of current owners, even the consumers who leased cars will get compensation. The 2 billion in green energy and zero emission efforts will be spent over 10 years, and will include zero emission vehicle infrastructure.

0 0
Comments:
No comments found
Leave a comment
  • Jaw-dropping deals this Spring at RepoKar
    27 Feb 2017

    Spring is right around the corner! With melting snow comes rising car sales. Longer days and brighter sunlight mean it’s the season to think about the best used cars for spring; vehicles that allow you to appreciate blue skies, while getting a head start to summer. The sooner you decide on your dream car, the greater the possibility of finding the best deals.  At RepoKar, we want to be sure that you've got everything you need to start the season fresh with a smile on your face. That’s why we’ve prepared amazing, hassle free used cars, trucks, and SUVs for our fr...

    0 2
    18
    1039099 views
  • General Motors to lay off 1,100 workers
    06 Mar 2017

    General Motors promised us other things but that’s how it all turned to be, even if it said it will invest $1 billion in U.S. factories now it announced to temporarily cut off 1,100 workers in May as its Lansing Delta Township assembly plant in Michigan shifts production to Tennessee. Last year it added 800 jobs at its spring hill, Tennessee plant to build the new version of GMC Acadia SUV.  The Lansing plant will continue building the Buick Enclave and Chevrolet Traverse after it retools for a month. GM also has announced other U.S. factory cuts. U.S. President Donald Trump ha...

    0 0
    19
    105696 views
  • Subaru Ascent: the New Family Vehicle of the Year
    11 Sep 2018

              Did you ever doubt that Subaru won't produce anything new this year and would just improve other models? We have good news for you! Subaru Ascent's new 8-seat crossover rises above the crowd and tops the lists of the most expected crossovers in 2019.          With flexible seating for up to eight passengers, standard Symmetrical All-Wheel Drive, and up to 5,000 pounds of towing capacity, the family-sized 2019 Ascent makes every day an adventure. The appearance of the model corresponds to the classic image of a massive SUV and ...

    0 0
  • Ready For Fall: Buy A Car From RepoKar Online Auto Auction
    29 Aug 2018

    Summer has officially come to an end. It won’t be long before the weather goes from post-summer comfort to a little brisker and icky. A good car will help traveling more comfortable and more fun. RepoKar can help you get the car.  At RepoKar, you’ll find great autumn car deals for sedans, SUVs, and pickup trucks. As the nation’s largest online auto auction, RepoKar is available in all states and can be accessed from your computer or your phone. Here you will find vehicles at competitive and affordable prices. You'll also meet our helpful team of experts. We make...

    0 0
Search on the blog
Find us on

Last added auctions

2012 Ford ESCAPE
1485 views
19 photos
3,400.00
No bids
2012 Nissan MURANO
2679 views
13 photos
3,500.00
No bids
2000 Honda CR-V
2101 views
12 photos
1,200.00
No bids
2012 Mazda MAZDA3
2409 views
16 photos
2,500.00
No bids