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Two months after agreeing to a $14.7 billion deal with federal regulators over its cheating on diesel emissions tests, Volkswagen has reached another settlement covering its 650 U.S. dealers.The maker will pay $1.2 billion over the next 18 months to cover the losses dealers claim to have run up as a result of the scandal, in large part due to a sharp drop in the maker's sales. Along with cash payments, VW will provide "additional benefits" to those dealers. ‘‘They have cars on their lots they can’t sell,’’ Steve W. Berman, the lawyer for t...
For three years U.S. customers were revealing their dissatisfaction towards vehicle market, and now for the first time they say the auto industry starts to make discounts and offers they really like. In 2016 customer satisfaction is up 3.8% to a score of 82, on a scale of 100. The brand which took the hot spot with a score of 87, taking Lexus' place was Lincoln. The second place was won by Honda with almost the same score 86. Honda was followed by Toyota and BMW with a score of 85. The driver satisfaction ratings used to be dominated by Luxury cars, but now the top tier has chang...
Volkswagen has a lot to worry about with respect to its diesel-emissions cheating scandal. On the civil side, it’s already anticipating divvying out $15 billion to make right with regulators, states, and customers over hundreds of thousands of diesel vehicles that contain a software-based cheat allowing them to emit many times the permissible amount of nitrogen oxide. While the settlement with U.S. regulatory authorities largely resolved VW's obligations to the federal government, the automaker also faces potential criminal charges relating to the use of emissions-cheating software i...
One of the main questions surrounding Tesla is its ability to ramp up production to satisfy the almost 400,000 existing Model 3 orders, and the hundreds of thousands of orders that are supposed to follow. Past isn’t necessarily indicative of the future, but on Tesla’s earnings call just now things didn’t sound all roses. The company ended up losing $293 million last quarter on a GAAP (Generally Accepted Accounting Principles) basis, and $150 million on a non-GAAP basis, which takes into account things like leases that GAAP generally doesn’t adjust for. ...
Despite the ongoing emissions scandal and slumping U.S. sales, Volkswagen Group overtakes Toyota as the largest automaker in 2016's first half. Its sales volume raised 1,5% from the year-earlier period to 5,11 million vehicles. Of course, the scandal involving Volkswagen's diesel models has had a significant impact on sales, but the automaker's Audi luxury brand and mass-media market Skoda brand did well. This was due to the fact that consumers in Europe were less aware of emissions problems with those two brands. China, being the world's largest automobile market, ...
