Thursday, June 23, 2016

VW reportedly ready to compensation payment of ten billion dollars – FAZ – Frankfurter Allgemeine Zeitung

Volkswagen assumes that the week ahead in addressing the exhaust scandal, the company is a great step forward to malicious software engine in diesel vehicles. In the United States runs on Tuesday, the deadline set by the District Court in San Francisco from up to which the Wolfsburg to present a coordinated with the authorities plan.

 Carsten Germis Author: Carsten Germis, economics correspondent in Hamburg.

it’s about how the manipulation of exhaust gases at about half a million vehicles technically resolved and the customer will be compensated. An agreement there is, after all, what is known, not yet.

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According to the latest reports the AFP news agency that coincide with already earlier reports the agency Bloomberg, Volkswagen has to clean up the scandal allegedly to an indemnity of a total of about ten billion dollars (8.8 billion euros). Business circles were on the edge of the general meeting of VW also reported from an impending agreement, however, mentioned no figures. “It is expensive,” read only.



provision of more than 16 billion euros

The reportedly wants to pay up to 7,000 dollars to individual owners of diesel vehicles in Europe’s largest car company, the are equipped with the fraudulent software. The company also wanted to contribute to a fund to combat air pollution. Volkswagen is negotiating for months with the US authorities and other plaintiffs settle out of court.

The final plan will be presented next Tuesday a federal judge in San Francisco. By the manipulation of the flue gas values ​​less than 500,000 vehicles are affected in the United States. Volkswagen has made a provision of more than 16 billion euros for the global addressing of the scandal in the balance sheet for, 2015.

A comparison would provide the basis for resolving at one stroke more than 600 damages class actions of car owners , Because of the large number of applicants and authorities had assumed that being negotiated until the last minute.



Major financial risks

VW had to pressure from the US Environmental Protection Agency and its Californian counterpart Carb in September 2015 admitted to having tampered with diesel exhaust emissions by illegal software. Persons involved and after a basic agreement in April and signs of the negotiations – Although the number of affected vehicles is much smaller in America, the company’s financial risks are greater there than in Europe

In a comparison. on the edge of the Annual General Meeting on Wednesday in Hanover – likely for VW also be clear how much the exhaust manipulation will cost in the United States Volkswagen

likely According to the familiar with the talks person more than ten billion euros. the United States account, reported several agencies. That left less than five billion euros for Europe. In America, costs for repairs and recalls, rebates and incentives for car owners and fines are factored in.



Hardly costs in Europe

In Europe might pass the costs be much lower because the European countries other emission regulations apply. VW assumes that the vehicles concerned European customers after retrofitting relate to the state and other demands are unfounded. So far only a few courts have car owners granted the right to return their car and refund the purchase price.

On the first steps to VW had agreed in principle with the US authorities already 2 months ago. Part of the agreements are also two American environmental fund be, pays into the VW – a fund for remedying environmental damage from excessive nitrogen oxide emissions, and another to promote environmentally friendly drive systems

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