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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...
Important job cuts are planned at Volkswagen in Germany. The automaker is to cut about 3,000 office jobs in Germany by the end of 2017. The company strives this way to offset the cost of its emissions test-rigging scandal.The Volkswagen brand has initiated an efficiency program that is affecting all areas, including personnel costs. Costs can be cut by reducing temporary work contracts, filling vacancies internally and making fewer hirings, the spokesman said, declining to be more specific. VW is cutting investment by 1 billion euros ($1.1 billion) in 2016 compared with last yea...
Volkswagen Group's representatives declared they are confident about the possibility to reach an agreement with U.S. regulators on a technical fix for diesel cars, vehicle buybacks and fines.For violating U.S. environmental laws, Vokswagen was sued by the U.S. Justice Department about five months ago. But there is still no fix for nearly 600,000 affected cars in the U.S. Though the U.S. authorities work to clear up the emissions scandal, VW is also progressing in its efforts to investigate the circumstances of the manipulations and will draw "the right conclusions&...
Volkswagen's presentation at Geneva Motor Show was interrupted by a protester on Tuesday. The protester said VW's chief executive sent him to fix the car's engine, alluding to the carmakers emissions scandal last year. And to remind everyone that the automaker installed illegal software in its TDI diesel engines to meet USA standards during regulatory testing.The protester was identified, Simon Brodkin, dressed in VW-branded coveralls, walked onto stage holding a box emblazoned with the words “cheat box” on it. “Excuse me, I have the new cheat box,” he ...
