The proposed settlement, with the Federal Trade Commission and drivers of about 78,000 diesel models with 3.0-liter engines, brings the total cost of penalties, buybacks and fixes in North America to more than $23 billion.
VW has repurchased or terminated the leases of about 96,000 vehicles, more than last year’s annual increase, and must buy back or fix as many as 562,000 diesel vehicles in the U.S. into 2019.
If former CEO Martin Winterkorn knew about the Volkswagen emissions cheating earlier than he claimed and colluded in covering it up, the company’s legal bills could skyrocket past even the tens of billions of dollars and euros it has already...
A 40% surge for Tesla Motors the last couple months certainly helps. So does a shared drive to make right here in America.
“I am, to a large extent, an environmentalist,” Trump told Mark Fields, Sergio Marchionne and Mary Barra. “I believe in it. But it’s out of control.”
Martin Winterkorn apologized during his first public appearance since September 2015, saying he was deeply upset about disappointing VW customers, and claimed he had no early knowledge of the emissions scandal.
Saudi Arabia plans by 2030 to produce 70% of its power from natural gas and 30% from renewables and other sources
While VW is still counting the cost of an unprecedented emissions scandal that rocked the auto sector and German industry, similar allegations are now being levied against other carmakers, including Fiat Chrysler and Renault.