Volkswagen agrees to yet another diesel cheating settlement
Total Response time: 0.17689490318298
All of the models were equipped with "defeat devices" that only kicked in emission controls when they detected that pollution tests were underway. Once vehicles hit the road, they were turned off, allowing for driver-pleasing power levels but 20 times the legal amount of nitrogen oxide, an exhaust gas that kills tens of thousands of people a year.
This order completes the FTC's case against Volkswagen by ensuring that all consumers who purchased a TDI diesel engine vehicle will be fully compensated for their losses.
"This order completes the FTC's case against Volkswagen by ensuring that all consumers who purchased a TDI diesel engine vehicle will be fully compensated for their losses," the FTC said in a statement. Volkswagen CEO Volkmar Denner also said that the company is anxious to move on and focus on its next-gen EVs and other projects. However, the company is still dealing with potential fines and penalties in the EU and elsewhere.
Now that it's all over, how much has VW paid out in the US? While it's hard to gauge the price of the destruction the cars wrought on the environment and our health, $21.4 billion is far and away the steepest settlement ever paid by a corporation (the company earned $8.3 billion in the first half of 2016). Perhaps more importantly, it should stand as an abject lesson in corporate morality, for anyone who still thinks that self-regulation is a good idea. The following chart details all the settlements.