The cost for the scandal Volkswagen dieselgate salt to at least 15.3 billion dollars (nearly 14 billion euro). The settlement agreement filed with the US District Court in San Francisco, California, provides for a cost of up to 10.03 billion dollars to repurchase and / or repair 480 thousand vehicles sold in the US with diesel engines from 2 liters rigged to mask the emissions pollutants, and compensate for their buyers. This sum will be added $ 2.7 billion to be paid into a fund managed by Ente for Environmental Protection (EPA) “to compensate for the effects of pollution”; VW will then invest 2 billion over 10 years in the zero-emission vehicle technologies. To this is finally adds the cost of a $ 600 million agreement with 44 US states.
The details are filed in two separate documents from the company and the US Department of Justice; Judge Charles Breyer will announce on 26 July, the approval or not of the agreement that – remember him – is the result of long negotiations between Volkswagen on the one hand and the Ministry of Justice and the US EPA on the other.
The total of over 15 billion dollars, nearly 14 billion euro, is close to the 16.2 billion euro that VW has set aside in 2015 budget to meet the costs of the scandal. “The cost of the settlement – said the Volkswagen CFO -” is below than previously set aside and we are able to handle the consequences. “
In detail, each purchaser of 475mila vehicles with engines rigged diesel sold in the US between 2009 and 2015 will decide whether to repair the vehicle or return it to the manufacturer at a fixed price plus compensation; the latter will go from 5 to 10 thousand dollars depending on the age of the car. For now VW has not yet managed to find a technical solution to fix the vehicles in a way that complies with the emission regulations but without penalizing fuel consumption or performance. VW also indemnify – even with lower amounts – consumers who have already sold their cars after the outbreak of the scandal (in September 2015).
Once approved by the judge out of court settlement, consumers will three months for whether to accept the company’s offer or try to get more for individual causes. The procedure should therefore be closed as soon as October, and 10 billion dollars have a maximum value in the event that VW has to repurchase all of the cars.
The agreement that will be announced today does not solve all problems for Volkswagen: in fact remain to be ascertained fines that US authorities could provide for the company; there remains the problem of the 3-liter diesel engines fitted in the US about 80 thousand high-end cars; stay all civil suits in Europe, both by consumers and by investors damaged by the collapse of the Vw title in September 2015; stay open all the criminal aspects of the case, the potential market manipulation scam. Finally there remain the European demands, also reiterated in recent days by the EU Commissioner for Industry Bienkowska, similar compensation for European buyers (much more numerous than the US).
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