Spring is here, and it's the perfect time to discover fresh feelings of adventure.If you are willing to explore your need for speed, then RepoKar is the right place for you! RepoKar is a fun, high-octane online Public Auto Auction where you'r...
Volkswagen's efforts to solve the emissions scandal and to overcome its consequences came to a buy-back offer of almost 500,000 diesel cars that used sophisticated software to evade U.S. emissions rules. Volkswagen AG and U.S. officials have reached a framework deal under which the automaker would offer to buy back 2.0-liter diesel vehicles sold in the U.S. that exceeded legally allowable emission levels.The cars concerned by this offer will include versions of the Jetta sedan, the Golf compact and the Audi A3 sold since 2009. At the same time it does not apply to ...
Volkswagen Group top executives, starting with Chairman Hans Dieter Poetsch, will have their 2015 bonus payments significantly cut as the automaker has a difficult period and counts the multi-billion-euro costs of its emissions-rigging scandal. VW said the supervisory board and management agree that the company needs to send a signal on top management pay. Variable pay will have to be reduced and in this sense the management board, for example, has already accepted cuts of at least 30 percent in bonus payments. VW's supervisory board will decide on the bo...
Rumors of a dealer class action against Volkswagen have swirled for months, and we have already mentioned about this in one of our previous blogs. But now, a prominent dealer attorney, Leonard Bellavia of Mineola, N.Y., declared he is prepared to file a lawsuit against Volkswagen on behalf of U.S. dealers who supported financial damage after VW’s emissions scandal.The attorney declined to identify his clients, but he mentioned that whether the lawsuit is filed depends on whether the company can reach a settlement with dealers that compensates them fairly for the finan...
Last week, during a meeting concerning the company’s U.S. strategy, with the VW AG executives in Germany, Volkswagen’s U.S. dealers required reparations from the automaker for financial damages caused by the company's emissions violations.Though it is too early to discuss the size of any settlement so soon after pitching the proposal, it is evident that a special strategy for how Volkswagen is going to approach the dealer network on franchise damages, is needed. The prospect of reparations will be among the pressing topics to be addr...
As a punishment for pollution from Volkswagen's cars after the automaker cheated on diesel-emissions tests, a national remediation fund and a separate one for California is likely to be established. Volkswagen Group is now in talks with U.S. authorities on this matter.The national fund would be administered by the Environmental Protection Agency and used to promote clean transportation throughout the U.S. The other would be run by California to promote zero-emission vehicles in the state. Negotiations are continuing and many details are still being determined. Through a...
