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Expect a settlement in the Volkswagen emissions fiasco tomorrow
A federal judge has given Volkswagen until Tuesday, June 28th, to present a plan aimed at making amends in the diesel emissions scandal that's been dogging the company for nearly a year. Reuters and Bloomberg report that the settlement will cost VW $15 billion. In September, regulators discovered VW was using emissions-concealing software in roughly 500,000 of its diesel vehicles sold since 2008.
Volkswagen plans to launch 30 electric cars in 10 years
With an $18.2 billion emissions scandal weighing heavy on its bank balance, Volkswagen is hoping electric cars will offer a brighter future. At a recent press conference, company CEO Matthias Müller unveiled "Together - Strategy 2025," a new initiative designed to put 30 new electric vehicles on the road within 10 years. The idea, Müller says, is "to learn from mistakes made, rectify shortcomings and establish a corporate culture that is open, value-driven and rooted in integrity."
The cost of VW's emissions scandal hits $18.2 billion
A day after a reported deal between Volkswagen and regulators over its emissions scandal, the company offered an update on the cost of the ordeal. This week, reports surfaced that customers would have the option of compensation and repair or allowing VW to buy back any vehicles with the faulty emissions equipment. However, an official announcement on the terms hasn't been made just yet. The diesel emissions scandal in which car systems were rigged to cheat tests affected around 600,000 vehicles.
Don't bank on Volkswagen paying you $5,000 just yet
Well, this is awkward. Yesterday, German newspaper Die Welt claimed that every American with one of Volkswagen's dodgy diesels would receive $5,000 in compensation. Today, Reuters is offering up a contradictory report saying that the terms of the proposed settlement are substantially different. According to sources, VW's as-yet-confidential deal with regulators means it'll buy back 500,000 of the vehicles that cheated emissions tests. In addition, $1 billion is being set aside as an apology fund for affected owners who will need to buy a new ride. Simple division means that you'd be getting your money back on the car, plus an extra two grand as a mea culpa.
VW will reportedly pay you $5,000 to settle its emissions scandal
If you were burned by Volkswagen's emissions cheating and don't think that $1,000 in credits and gift cards will cut it, we have good news for you... maybe. Die Welt sources understand that VW has reached a settlement deal with US officials that will have it pay affected diesel car owners $5,000 each to make up for misleading the public on the eco-friendliness of its vehicles. That's on top of what VW will have to pay to fix the cars in question. Provided the automaker gets the deal approved on April 21st (the deadline a court gave to agree on a fix), it'll avoid a trial that could easily have proven more costly.
VW staff used code words to hide emissions cheating
Volkswagen's problems cooperating with emissions investigators aren't just a matter of navigating privacy laws... if you believe insiders, it's because the culprits did a good job of keeping things hush-hush. Bloomberg tipsters claim that VW staff used "dozens" of code words to hide emissions cheating activities, making it difficult for internal investigators to find evidence. They'd refer to the technology as "acoustic software," for example. Combine that with old, inadequate computers and it has supposedly been difficult to pin the illegal behavior on specific people.
FTC sues Volkswagen over false 'Clean Diesel' car ads
Volkswagen's US legal woes aren't stopping with the lawsuit from the Justice Department. The Federal Trade Commission has filed its own lawsuit against the car maker, accusing it of deceiving customers by running a "Clean Diesel" ad campaign between 2008 and 2015 while it was cheating on emissions tests. Simply put, it was touting its diesel cars as eco-friendly when they were anything but -- the FTC notes that they cranked out up to 4,000 percent more nitrogen oxides than the legal limit.
Fossil unveils 7 more wearables, including Android Wear watches
When Fossil teased plans to have over 100 wearable devices on store shelves this year, it wasn't clowning around. On top of the abundance of devices it has unveiled so far, it's announcing seven more today. Leading the pack are two Android Wear smartwatches, the multi-finished Q Wander (above) and the slightly tougher Q Marshal. Both are available with 44mm and 46mm circular cases, wireless charging and choices of strap and body styles. They sell at the same $275 starting price as last year's Q Founder, so they might be viable choices if rivals like the Huawei Watch or Moto 360 aren't your cup of tea.
California rejects VW's recall plan
California isn't happy with Volkswagen recall proposal for its emissions-cheating diesel vehicles. Today the state rejected the automakers plan saying it "contained gaps and lacked sufficient detail," lacked "enough information for technical evaluation" and does "not adequately address the overall impacts on vehicle performance, emissions and safety." So it's back to the drawing board for the company.
VW wants to fix emissions cheating with catalytic converters
Volkswagen has already promised to recall US vehicles caught up in its emissions cheating scandal, but how is it actually going to fix most of them? We now have a good idea. Bild, the Financial Times and Reuters all hear that VW is proposing the installation of a catalytic converter (reportedly "made in part from new materials") on 430,000 of the 600,000-plus affected cars sold in the US. It's not certain whether or not the country's Environmental Protection Agency is onboard with the idea, but that may answered when VW chief Matthias Müller meets with the American regulator on January 13th.
VW to set up emissions claims program for your lawsuits
Volkswagen announced on Thursday that it is establishing an independent claims program led by Ken Feinberg, the man that handled both the government's payout efforts for 9/11 victims and Transocean's compensation for people affected by the Deepwater Horizon spill. Feinberg "will develop an independent, fair and swift process," according to the company, for resolving the more than 500 lawsuits that VW is currently facing. There's no word, however, on when the program will officially launch. The company is also still waiting on approval for its proposed repairs from regulators.
Volkswagen scandal might force it to sell luxury brands
The Volkswagen saga continues, as the company deals with the aftermath of its emissions scandal. According to Reuters, the German automaker has secured a loan of roughly 20 billion euros in order to pay for resulting lawsuits and to compensate consumers whose cars are now worth less following the admission. However, there's a catch. In order to assure that it can pay back the loan, Volkswagen had to confirm that it's prepared to sell off some of its smaller holdings including Bentley, Lamborghini and Ducati.
VW's emissions shenanigans may go back as far as 2009
Volkswagen has disclosed to regulators that issues with emissions from its larger cars and SUVs may actually date back more than six years and encompass thousands of more vehicles, the EPA reported on Friday. Essentially, the company is confirming what the EPA accused it of back at the start of the month: that VW, Porsche and Audi SUVs equipped with 3.0 liter, 6 cylinder gas engines were gaming smog tests in the same manner as VW's diesel vehicles. The EPA's investigation is ongoing.[Image Credit: Getty]
EPA plans more real-world emissions tests in light of VW's cheating
Car makers like Volkswagen should have an even tougher time cheating on emissions tests than they first thought. The Environmental Protection Agency has revealed that it'll include considerably more real-world diesel emissions tests as part of its improved inspections. The on-the-road testing isn't as sophisticated as what you'd find in the lab, but it should reduces the chances that companies will fudge results. Moreover, vendors won't get a chance at optimizing for the EPA's new tests -- it's keeping its exact methodology a secret.
VW will reportedly offer cash to cheated diesel car drivers
If you're feeling burned by Volkswagen's decision to cheat on diesel emissions tests, you might get some compensation for your troubles. Sources for The Truth About Cars understand that VW will launch a "TDI Goodwill Program" that compensates diesel car drivers with cash in the form of prepaid cards. In the US, you'd get both a $500 universal card as well as a VW-only card worth $500 to $750. The automaker isn't confirming details just yet, but it tells the New York Times that it's planning an announcement on Monday. Dealers also tell the newspaper that they're aware of a program in the works, although they don't know the specifics. It may not include the expanded range of cars reportedly tainted by the scandal, though, since VW is denying claims that it cheated with some models.
Volkswagen also lied about its gas-powered cars
Volkswagen admitted in September that it used defeat devices aimed at fooling emissions tests in 11 million of its diesel vehicles -- but now its gasoline models are implicated in the scandal as well. On Tuesday, Volkswagen reported that it understated the level of carbon dioxide emissions of about 800,000 vehicles, including gasoline-powered models. This is the first confirmation that some of Volkswagen's gasoline-run vehicles do in fact exceed carbon dioxide emissions. The company didn't provide details in today's revelation, but it said the conclusion comes after conducting internal emissions tests.
Volkswagen's emissions scandal might affect even more cars
And further down the rabbit hole we go. On top of the 11 million cars already found to be cheating on diesel emissions tests, Volkswagen has also announced that it's investigating to see if other diesel cars have similar software tweaks, the New York Times reports. Specifically, it's looking into cars with its EA 288 diesel motor. All of the cars already affected, including VW's Passat, Jetta and Golf lines, are running a separate EA 189 motor line. The news follows a Reuters report from earlier in the week which claimed the car maker actually had several different emissions cheating solutions. That would make sense if it wanted to cover several different engine types. VW has recalled all of the cars affected by the scandal so far -- some can be fixed with a mere software update, while others might require mechanical tweaks. The company has also said it might compensate its customers for the fall in value of their cars following the scandal, though it won't be offering full refunds.
Volkswagen had 'several' emissions cheating devices
Those suspicions that Volkswagen cooked up more than one defeat device to cheat on emissions tests? They may be well-founded. Reuters tipsters claim that the car maker produced "several versions" of the gadget to suit different diesel engines. VW isn't confirming anything (it's still in the midst of an internal investigation), although it makes sense. The company has had different variants of TDI engines over the years, and different regional emissions standards would have required at least modified software.
Car makers are worried tougher emission tests will kill diesel sales
If you guessed that the ever-expanding Volkswagen diesel scandal would make other automakers nervous... you guessed well. In a statement, the European Automobile Manufacturers' Association (ACEA) worries that regulators will demand overly strict emissions tests and standards. Extra-tough requirements would supposedly make some diesel-based vehicles (which are popular in Europe) "effectively unaffordable," leaving vendors with no choice but to axe those models. The industry is in favor of better tests, the ACEA insists -- it just wants more "realistic" goals.
Germany orders recall of 8.5 million emissions-cheating Volkwagens
The outcome for consumers affected by the diesel emissions cheating scandal that has enveloped Volkswagen over the past month is becoming clearer, at least in Europe. According to the AP, Germany is ordering the company to recall all cars that include the emissions-cheating software across the European Union. That comes out to 8.5 million cars out of the total 11 million affected vehicles that were sold worldwide. Naturally, the fix will be free for owners -- and it's still possible that Volkswagen could compensate those who own cars affected by the scandal, as resale values are sure to drop significantly.
