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Even as incentive spending reaches a record high, U.S. new-vehicle sales are projected to decline for a second consecutive month. The forecasts reinforce the notion that industry sales have leveled off after six consecutive years of gains coming out of the recession. But analysts say the market is not on the brink of a downturn, either. Auto sales are tracking just about even with last year’s record-breaking pace, so there’s good reason to believe that they’ve hit a high plateau. At the very least, automakers can feel good that sales are consistently hovering at o...
This Wednesday the Volkswagen AG Chief Executive Matthias Mueller said he is hopeful the German automaker can reach agreement by the end of the year with the U.S. government on the size of a fine to settle a criminal investigation of the company's alleged violations of U.S. clean air laws. He added that he sees a good progress toward an agreement with U.S. regulators that could allow Volkswagen to repair certain 3.0 liter diesel engines that emit more pollutants than U.S, law allows. Speculation that the U.S. Justice Department will demand a multibillion-dollar fine to settle a ...
It's been a year since the Volkswagen scandal first erupted , but only 1 out of 10 vehicles which cheat emissions got fixed. More than 1.2 million vehicles were affected by the emissions scandal in Britain, equivalent to nearly one in 10 of the country's diesel cars. Even though the carmaker has promised to fix the problem in only a year, only 110,000 vehicles in the UK got fixed. It's still unclear how much more people have to wait, since 9 out of 10 drivers are still waiting for their car to get fixed. The chair of Transport Select Committee, said the efforts...
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...
