VW Emerges from U.S. Oversight in Diesel Scandal
A three-year U.S. audit concludes that Volkswagen has mended its ways after years of cheating on diesel emissions.
In his final report, U.S.-appointed auditor Larry Thompson, a former U.S. deputy attorney general, says VW has completed an extensive overhaul of its compliance procedures to avoid another scandal.
The audit stems from VW’s admission in 2015 that it had rigged 11 million of it diesels to evade emission standards worldwide. Roughly 555,000 of those vehicles were sold in the U.S.
VW agreed to the audit as part of a $4.3 billion consent decree in 2017 to settle criminal charges brought by the U.S. Dept. of Justice. The charges asserted that VW lied to U.S. and California regulators about the cheating and misrepresented the performance of the manipulated diesels to customers.
The deal followed a $14.7 billion civil settlement a year earlier to compensate owners of the rigged diesels.
VW has agreed to date to pay out some $23 billion in fines, remediation and ownercompensation, mainly in the U.S. But it’s not in the clear yet. A bevy of similar lawsuits are piling up in Europe that could multiply the company’s settlement costs.
The forthcoming Chevy Colorado ZR2 is designed and engineered to be able to handle off-road situations of all types with aplomb.
The way people are going to get transportation is changing the world over. Get ready for it.
Volkswagen AG has created a new Canadian subsidiary to deploy a network of public charging stations for electric vehicles.