Weekly Wire for July 1, 2016: VW Diesel Payout, the New Porsche Panamera, and Austin’s Uber/Drinking Problem
A tough week in Wolfsburg turned out pretty darn well for certain VW diesel owners.
This week, Volkswagen announced a proposed settlement to pay out $14.7 billion to owners of some diesel VW and Audi cars with 2.0-liter TDI engines. The money goes mostly to fund very generous cash payouts to car owners, as well as reduce nitrogen-oxide emissions and develop zero-emissions vehicles. Meanwhile, Porsche fans have been given the gift of a sleek new Panamera, and the city of Austin has succumbed to drinking and a dubious taxi free-for-all in the wake of Uber and Lyft's departure.