VW and Dealers $1.2 Billion Dollar Settlement Approved

District Judge Charles Breyer has given final approval to a $1.2 billion settlement agreed to by both Volkswagen and its dealers.

The sum will be paid to 650 dealers over the course of 18 months, which averages out to about $1.85 million per dealer.

Judge Breyer said that the settlement is “fair, reasonable, and adequate.”

Under the terms of the agreement, VW will continue to make volume-based incentive payments to dealers, and dealers will have the option to defer capital improvements for up to two years.

As a result of these stipulations, the full value of the settlement is closer to $1.6 billion, according to law firm Hagens Berman, which represented the dealers.

The agreement with dealers is “a very important step in our commitment to making things right for all our stakeholders in the United States,” Hinrich Woebcken, VW North America CEO, has said in the past.

“The Volkswagen-branded franchise dealer class-action settlement finalized today represents an outstanding result for Volkswagen’s affected franchise dealers,” said Steve Berman, lead attorney for the dealers.

[source: Automotive News]

The post VW and Dealers $1.2 Billion Dollar Settlement Approved appeared first on VWVortex.

from VWVortex http://ift.tt/2kouSKb
via IFTTT

Comments

Project SportWagen: Going Stage 2 with APR

When we last left you, the humble little SportWagen was fresh from the development process with our friends at AWE Tuning, sporting a new downpipe, exhaust and intake, allowing things to breathe a bit easier. The car sounded great, but there was no getting around the fact that our wagon was still quite, well, slow. While we realize that nothing we do to the Golf SportWagen at this point will make it a race car, we still felt compelled to do something . To put it bluntly, we had a fever, and the only cure was more power. Flash forward a few hours, and we found ourselves at Waterfest, staring down APR’s palatial spread and the numerous tuned vehicles surrounding it. Earlier in the year, APR had hinted to us that their 1.8 TSI files would be quite impressive, and based on what they were able to do with the 2.0 TSI found in the new GTI and our time in their Golf R, we knew it’d be worth the wait. So with this in mind, we lined our G...

Project Golf SportWagen- Intro

I’ve never really been one for SUVs and crossovers. The current offerings aren’t the body-on-frame, go-anywhere specialty tools I remember from my youth, and what they lack in capability, they also lack in on-road performance. The current crop isn’t terribly good at handling or being efficient, which in my opinion are major components of our ideal driving experience. So when it comes to space or utility, I usually look for something of the wagon variety- and it seems that I’m not alone. We hit quite a few shows around the east coast each summer, and we see modified Jetta SportWagens at nearly every event. Even amongst common consumers, these cars are highly sought-after. They don’t depreciate much, making even early Mk 5 2.5 versions expensive in comparison to other Jettas or Golfs of the same vintage. This year, Volkswagen launched their latest SportWagen, which is now billed as a Golf. In many ways, this latest SportWagen is the best yet and it has certai...

Volkswagen Group Records Best Ever First-Half-of-Year Sales

With 5.5 million vehicles in customer hands after the first six months of 2018, the Volkswagen Group is seeing the best performance of its history. Group deliveries increased significantly in all core regions,” said Fred Kappler, head of sales for the Group. “Our core brands recorded strong growth in the first half year.” For the year-to-date, all of Volkswagen’s brands had sales bumps. MAN, SEAT, and Skoda led the sales charge with performances 24%, 17% and 11% better than the previous year. The big sellers, too, had strong sales periods, with Volkswagen Commercial Vehicles, Audi, and Volkswagen sales rising 3.5%, 4.5% and 6.3% respectively. That last figure is particularly good new for the board, since Volkswagen alone sold more than 3 million vehicles in the first half of 2018. As Kappler stated, the numbers are equally good when you break sales down by region. Brazil and Russia were the most improved markets (22% and 20%, respectively), while strong sales in Europe and China (u...

Vorderman Volkswagen

Search This Blog