Blame Game Over 830-mn-euro Settlement In VW's German Diesel Cases
Faizan Hashmi 6 days ago Sat 15th February 2020 | 01:50 AM
Frankfurt am Main, (UrduPoint / Pakistan Point News - 15th Feb, 2020 ) :Consumer representatives and car giant Volkswagen each blamed the other Friday for a breakdown in talks over a settlement for 400,000 German customers in the firm's "dieselgate" emissions cheating scandal.
In a statement, the sprawling 12-brand group later said it would "offer customers registered as part of the mass lawsuit... the negotiated settlement without support from the VZBV".
For his part, VZBV director Klaus Mueller told reporters in Berlin that the talks "failed because of VW's lack of openness to enable a transparent, trustworthy and secure system" to actually pay out the cash.
"We cannot in any way support a settlement that isn't trustworthy or that has impossible to predict consequences for consumers," he added.
The mass lawsuit is one of the biggest legal hangovers from VW's 2015 admission to fitting 11 million vehicles worldwide with software to make the engines appear less polluting in regulatory tests than in real driving conditions.
While American diesel buyers have enjoyed generous buy-back and compensation schemes, German drivers have so far gone uncompensated for the impact of the scandal, which has since spread to other carmakers.
Some 400,000 owners had rallied behind the VZBV in the first-of-its-kind grouped proceeding, which opened last September.
Around 70,000 individuals also have open claims against VW, while 55,000 cases have been settled or decided in court.
"We will continue the court case with all our strength," Mueller said, adding that "it's baffling to me that VW broke off talks in this way today." - 30 billion euros - Volkswagen said in an online announcement it was ready to pay out between 1,350 and 6,257 euros per vehicle, depending on model and age, so long as it had been purchased before Jan 1, 2016, with the buyer a German resident and still in possession of the car.
VW's shares fell Friday, but losses were limited because investors thought any final settlement with German drivers would only be a tiny fraction of the total costs of dieselgate so far.
As well as the car owners, investors have also launched mass lawsuits relating to "dieselgate".
They demand compensation for VW shares' loss in value immediately after the scandal broke.