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Volkswagen will pay US$1.21b to settle US dealer claims

Saturday, October 1, 2016 - 08:01
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Volkswagen AG confirmed late Friday it will make US$1.21 billion in payments to 652 US brand dealers as part of its US$16.5 billion diesel emissions settlement to date.

[WASHINGTON] Volkswagen AG confirmed late Friday it will make US$1.21 billion in payments to 652 US brand dealers as part of its US$16.5 billion diesel emissions settlement to date.

VW's dealers will receive an average of US$1.85 million each on average over 18 months under the settlement that was first announced in principle in August.

Separately, the US Justice Department, Federal Trade Commission and lawyers for owners of 475,000 polluting diesel cars filed legal papers late Friday asking a federal judge to grant final approval to buyback offers and diesel remediation efforts at an Oct 18 court hearing.

REUTERS

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