WASHINGTON, Oct 25 (Reuters) - A U.S. 14.7 billion deal arising from its diesel emissions cheating scandal, and the German automaker said it would begin buying back polluting cars in mid-November. VW admitted in September 2015 to installing secret software in its diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing than they really were. In reality, the vehicles emitted up to 40 times the legally allowable pollution levels. Breyer turned away objections from car owners who thought the settlement did not provide enough money, saying it "adequately and fairly compensates" them. 10,000 in additional compensation. 4.7 billion on programs to offset excess emissions and boost clean-vehicle projects. The settlement was reached with the U.S. Justice Department, Federal Trade Commission, the state of California and vehicle owners who had filed a class action lawsuit against VW. Volkswagen has admitted to misleading regulators and still faces an ongoing criminal investigation. It represented the largest civil settlement worldwide ever reached with an automaker accused of misconduct.
246 billion settlement reached by cigarette makers with 46 U.S. 53 billion by BP to address costs and penalties arising from the 2010 Gulf of Mexico oil spill. 16.5 billion in connection with the scandal, including payments to dealers, states and attorneys for owners. The scandal rattled VW's global business, harmed its reputation and prompted the ouster of its CEO. The settlement covers 2.0-liter polluting diesel Beetle, Golf, Jetta, Passat and Audi A3 cars from the 2009 through 2015 model years. Up to 490,000 people will take part in the settlement because some vehicles had multiple owners. Volkswagen spokeswoman Jeannine Ginivan said the automaker expects to begin buying back vehicles in mid-November. VW has hired 900 people, including one to be stationed at each dealership, to handle buybacks. VW still faces billions more in costs to address 85,000 polluting 3.0-liter vehicles and Justice Department fines for violating clean air laws.
It also faces lawsuits from at least 16 U.S. Last month, a Volkswagen engineer pleaded guilty in Detroit to helping the company evade U.S. His lawyer said he would cooperate with federal authorities in their criminal probe. Cynthia Giles, U.S. Environmental Protection Agency assistant administrator. 2 billion over 10 years to fund programs to promote electric vehicle charging infrastructure, development of zero-emission ride-sharing fleets and other efforts to boost sales of cars that do not burn petroleum. 1.21 billion in payments to 652 U.S. 600 million to 44 U.S. Nearly 340,000 owners have registered to take part in the settlement. About 3,500 owners have opted out. Volkswagen must fix or buy back 85 percent of the 475,000 vehicles under the agreement by June 2019 or face additional costs. Owners have until September 2018 to submit paperwork to sell back vehicles. VW will have to destroy repurchased vehicles unless it wins approval for fixes.
This will help remove anywhere between 120-140 pounds of weight compared to the Golf Mk7, but actually, increase the stiffness and rigidity at the same time. Less weight, better rigidity, more powerful engines, and a whole lot of new tech promise one thing - the best GTI ever. Compared to the Golf Mk7, the entry-level Golf 8 GTI is expected to have a 252-horsepower engine with a standard electronic limited-slip differential (VAQ) on all models. The Clubsport is expected to have an engine that develops more than 300 horsepower, while the top-notch Golf R may even end up in the same mad segment with the Audi RS3. Yup, the new 2020 Volkswagen Golf 8 will be considerably more expensive compared to the Golf 7. Bear in mind that at any point in history, a nice Golf with a piece of fine equipment was not cheap. Ever. Volkswagen did offer low-end models before, but I believe that with the Golf Mk8, low-end Golfs will be no more.
