an appropriate package provides buybacks, compensation and punishment. After months of negotiations VW reached an agreement with the US authorities and applicants, which was presented on Tuesday.
The company commits itself therefore to repurchase or convert hundreds of thousands from the scandal affected diesel cars in the United States. The overall figure is also a payment of 2.7 billion dollar will be included in a fund that aims to promote environmental projects. In addition, VW to $ 2 billion to promote the spread of zero-emission cars. These might include the construction of charging stations for electric cars
AT EXHAUST TESTS tricked
Converted can cost reclamation Wolfsburg in the US thus around € 13.3 billion -. This corresponds to approximately one Net profit in previous good times. So far, the automaker has for the consequences of the crisis more than 16 billion euro covered (currently $ 17.6 billion). Here but
The VW group is not only to problems in America. Had end September 2015 added by allegations of US Environmental Protection Agency EPA to have tricked a large scale in emission tests. Worldwide affected eleven million cars.
RATES NOT YET EFFECTIVE
The comparison now achieved is not yet final. First, the judge Charles Breyer must agree in Francisco the draft. In his actions in the USA are bundled. In April VW had already reached an agreement in principle, now followed by the exact design. Breyers final decision is expected for the end of July. Thereafter, applicants have the option to accept the settlement offer.
Specifically, VW wants US customers (4600 euros) paid with rigged cars at least $ 5,100 compensation. In some cases can amount, nearly 10 000 dollars a sum. The owners could choose whether VW will buy back or convert their cars. The vo compromise affected around 480 000 diesel cars is Volkswagen models like the Jetta and Passat as well as the A3 from Audi. still stands for the larger six-cylinder engines with 3.0 liter displacement no regulation.
“VERY CONSIDERABLE BURDEN”
VW finance chief Frank Witter called the Compensation package a “very significant burden on business. ” That makes the adopted austerity all the more necessary. Especially the core VW brand is weak earnings. Witter warned facing the United States: “Reference Solutions in this size weigh us down considerably, no doubt.”
Consumer advocates have long demanded compensation for European customers. In Europe, many more motorists are affected by the exhaust manipulations. A US-solution for Europe had VW but rejected by reference to the different legislation.
“IMPORTANT STEP FORWARD”
CEO Matthias Müller called the agreements in the US “an important step forward”. But the road is still long. “We are aware that we need to do much to regain the confidence of the people in America.” VW had stopped the sale of all diesel in the US after the scandal, sales collapsed.
After assessment of the Justice Department in Washington is the diesel scandal one of the most serious violations of consumer and environmental rights in US history. Consumers would familiarize VW and were bitterly disappointed, said Deputy Attorney General Sally Yates. The agreement was an “important first step” to draw VW for the breach of laws to justice. Actions of government and potential criminal matters are but it is not touched. With the German authorities to have good cooperate
“REPAIR OR SCRAPPING”
The head of the Environmental Protection Agency, Gina McCarthy, spoke of a breakthrough in every way agreement -. VW had in full peripheral bear all the consequences of his behavior. “We send today a strong message,” she said. “If you break our law, there are very serious consequences” The question whether VW affected cars could if necessary sell outside the country, she said no: “We do not ship this air pollution elsewhere out “in doubt, has to be decided”. repaired or scrapped “
Even after the US agreement is not over the scandal.. So threaten billions claims by investors because of possible market manipulation. In addition, the recalls affected vehicles are still in progress.
HEAVY CRISIS
The exhaust affair had VW plunged into a serious crisis and 2015 eingebrockt the biggest loss in its history. Volkswagen has now presented a new strategy as a response. VW CEO Müller had announced to expand electromobility massively. In addition, he plans to invest billions of new mobility services such as car sharing and networked vehicles.
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