Volkswagen settles lawsuit with most of the VZBV related claimants

by SpeedLux
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Volkswagen has reached settlements with 200,000 of the 260,000 claimants taking part in a class action lawsuit brought by German consumer group VZBV over the automaker’s misleading diesel emissions tests, the automaker said on Monday.

A further 21,000 cases were still being evaluated for possible payouts of 1,350 – 6,250 euros ($1,464.35 – $6,779.38) per car and the deadline for participating in the settlement has been increased to April 30, the automaker said. The exact amount depends on the age and model of the owner’s vehicle.

Volkswagen will pay out about 620 million euros ($674 million). It had set aside 830 million ($902 million) to cover the expenses of settlements with all participants of in the VZBV class action.

The deal marks a further step in the automaker’s efforts to make amends after its admission in 2015 regarding the use of illegal software to cheat U.S. diesel engine tests.

The effort has cost Volkswagen over $32 billion in vehicle refits, fines and provisions.

Almost all U.S. owners of affected cars agreed to participate in a $25 billion settlement in 2016 in the United States, but the automaker has said there was no legal basis for costumers in Germany to seek compensation because of the differences in law.

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