VOW Volkswagen AG

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)

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