The compromise negotiated with the US authorities regarding the civil aspect of the scandal. The German group could also be subject to criminal prosecution.
The Volkswagen Group is officially ready to spend at least $ 15.3 billion for settle in the United States damage the scandal “dieselgate”. Of this record amount for a car manufacturer, a little more than $ 10 billion will cover the repair or purchase of nearly 500,000 vehicles that still run on American roads.
In addition, Volkswagen accepts to contribute € 2.7 billion to a fund managed by the Federal Agency for environmental protection, to invest $ 2 billion in the fight against pollution technologies and pay $ 603 million to at least 44 states.
“We are able to manage the consequences”
“These ads are in limits of our liabilities and other commitments we have already announced. We are able to manage the consequences, “says Frank Vitter, CFO of Volkswagen. In April, the German manufacturer announced it had provisioned $ 18 billion to cover the scandal that erupted in September 2015 and has already precipitated the departure of the president of the then Executive Martin Winterkorn.
2014 Toyota paid $ 1.4 billion to end the civil proceedings because of a lack of certain models: they were subject to sudden and uncontrollable acceleration. The Japanese giant had finished further up paying 1.2 billion fine in the context of criminal proceedings brought by federal authorities. General Motors, implicated in a starter malfunction case, paid to date $ 2 billion to compensate customers in civil cases, in addition to a fine of $ 900 million in criminal proceedings.
the compromise negotiated by Volkswagen with the American authorities, presented yesterday in Washington and submitted at the same time a judge of a civil court in San Francisco, the German group up in a difficult situation with regard to its clients elsewhere in the world.
500,000 vehicles in the US market does indeed represent a small portion of the 11 million cars sold in other countries by the German manufacturer and are also equipped with software intended to mask the real volume of their nitrogen oxide emissions.
the bill for the portion of the settlement devoted to compensation for American motorists may vary depending on the number of those who decide to repair their car rather than sell to Volkswagen at a price calculated on the basis of the vehicle’s market value before the scandal. The manufacturer plans to pay 5,100 to $ 10,000 to US customers in addition to the purchase price, to compensate them for having deceived from 2009 to 2015 on the actual amount of nitrogen oxide emissions from its diesel models . 2 liters
Another remarkable element in this case: the colossal Regulation does not cover the 85,000 cars equipped with diesel engines of 3 liters including Porsche models. A separate negotiation is engaged on this issue. In addition, the sum of $ 15.3 billion does not include possible fines that federal authorities could impose criminal Volkswagen.
No comments:
Post a Comment