Court approves VW and Bosch 3.0-liter diesel settlements

Violet Tucker
May 13, 2017

Volkswagen, the best-selling automaker worldwide in 2016, could be forced to pay up to $4.04 billion if regulators do not approve fixes for all 3.0 liter vehicles.

The 3-liter deal, which was given initial approval in February, offers a mix of buybacks for older models and the prospect of an emissions modification for the rest. He testified that he was offered only $2,000, based on the assumption that a fix would make his vehicle compliant with federal emissions, compared to $8,000 that he would have received as an owner.

Owners of newer models will be compensated on a range from $7,039 to $16,114.

The settlement could set Volkswagen back by up to $4 billion if it can't come up with regulator-approved, emissions-reducing repairs for 58,000 newer-model vehicles by deadlines in October, November and December this year.

The deadline to file a claim is December 31st, 2019 and vehicle buyback values will be calculated from September 18th, 2015 which is the date the allegations of emissions cheating became public.

A $327.5 million settlement with Bosch, which supplied the software in the cheating engines, was also given approval by the judge on Thursday.

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In total, Volkswagen must pay up to $25 billion related to the vehicles sold in the US.

A federal judge said Thursday that he would approve Volkswagen Group's $1.2 billion buybacks-and-repairs settlement with owners of six-cylinder diesel engine vehicles that were not included in the company's separate deal for auto owners.

Less than 1% of consumers included in the deal objected to its terms or chose to opt out, plaintiffs' lawyer Elizabeth Cabraser said in court, adding that more than 70% of affected drivers have already registered to take part.

Volkswagen acknowledged in 2015 that roughly 475,000 Volkswagen and Audi vehicles with 2.0-liter diesel engines included software created to circumvent emissions standards.

Robert Giuffra, an attorney for Volkswagen, said Thursday that the company is nearing the end of the road in resolving its diesel issues in the U.S. "We believe the substantial compensation and steps to fix or remove polluting cars from the roads detailed in the settlements provide excellent value to consumers and hold Volkswagen and Bosch accountable for their breach of consumer trust". "These agreements accomplish our goal of making the consumers harmed by Volkswagen's emissions deception whole, while repairing or removing illegally polluting vehicles from our roads". Volkswagen has admitted to installing the software on almost 600,000 diesel-powered vehicles in the USA and some 11 million vehicles globally.

Other reports by Guamnewswatch

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