Drive Wire for June 28, 2016: Volkswagen Announces $14.7B Dieselgate Settlement

Affected customers are about to get paid.

byThe Drive Staff|
Share

0

On today's edition of Drive Wire: Volkswagen announces their long-awaited settlement with the EPA over "Dieselgate," so named when the automotive giant was discovered, in September, to have installed "cheat" technology in its diesel vehicles to bump up fuel-economy test numbers. A generous $10B will be allotted to customers affected by the deception—meaning a $5,000 cash payout, or a trade-in valued at up to $44,000—while $2.7B will be earmarked for an EPA fund aimed at reducing nitrogen oxide emissions. For more details on the settlement, check out today's Drive Wire with The Drive editor Mike Guy.

stripe