Volkswagen Group of America: Agreement Reached With Private Plaintiffs on Outstanding Fuel-Economy Claims - Update
August 30 2019 - 3:54PM
Dow Jones News
By Stephen Nakrosis
Volkswagen Group of America Inc. on Friday said it reached an
agreement with private plaintiffs concerning fuel-economy ratings
that will see the automobile company reimburse some customers.
The agreement resolves outstanding claims concerning the
fuel-economy ratings of some Volkswagen vehicles, model years 2013
to 2017 that were sold or leased in the U.S.
Under the terms of the agreement, Volkswagen Group will
reimburse eligible customers between $5.40 and $24.30 for each
month a vehicle was owned or leased. The total value of the
settlement is $96.5 million, Volkswagen Group said, adding it was
subject to court approval.
"Volkswagen is committed to providing customers with transparent
fuel economy data for our vehicles, in line with U.S. labeling
requirements," said Pietro Zollino, Executive Vice President,
Communications for Volkswagen Group of America.
The company said, "The fuel economy information for
approximately 98,000 affected gasoline vehicles, or approximately
3.5% of Model Year 2013-2017 gasoline vehicles sold or leased in
the United States, will be restated to reflect a discrepancy of one
mile per gallon." Volkswagen Group also said it would adjust its
Greenhouse Gas credits to account for any discrepancy.
"The settlement removes the uncertainty of protracted litigation
and does not include any admission of liability or wrongdoing by
Volkswagen," the company said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
August 30, 2019 15:39 ET (19:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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