On Friday, Volkswagen agreed to pay a settlement of $1.21 billion to 652 United States VW dealers after the last year’s emissions scandal involving the company’s TGI diesel powered vehicles.
Each dealership will receive an average settlement of $1.85 million paid out over the next 18 months in addition to the continuation of incentive payments and vehicle buy backs for cars dealers can’t sell.
Also on Friday, the US Justice Department, Federal Trade Commission, and lawyers for owners asked a federal judge to approve the buy-back offers for the 311,209 owners of Volkswagen’s 2.0-liter diesel-engine vehicles. And the company is still potentially facing civil and criminal US fines for violating emissions laws. READ MORE.