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No Agreement Yet on VW Diesel Fix for U.S. Market
Volkswagen AG and environmental regulators in the U.S. have not yet agreed on how to fix some 600,000 diesels that were rigged to evade American emission standards.
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Volkswagen AG and environmental regulators in the U.S. have not yet agreed on how to fix some 600,000 diesels that were rigged to evade American emission standards.
VW plans further talks with the California Air Resources Board and U.S. Environmental Protection Agency over the next two weeks in hopes of finalizing a recall plan by mid-January, a VW source tells Reuters.
The same 600,000 vehicles are the target of a U.S. Dept. of Justice civil lawsuit filed on Monday. The complaint seeks fines that could total $37,500 per vehicle for each of four alleged violations, implying a theoretical maximum of $90 billion (€84 billion).
The Justice Dept. predicts the actual fine will be “several” billion dollars. A Goldman Sach analysis anticipates a settlement of about €500 million ($536 million). Legal observers note that VW has already acknowledged guilt, making a fine of some sort virtually inevitable.
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