VOLK­SWA­GEN REACHES SET­TLE­MENT ON 3.0L DIESEL VE­HI­CLES

National Post (Latest Edition) - - FINANCIAL POST -

Volk­swa­gen has reached a $ 290.5- mil­lion deal to set­tle claims in Canada cov­er­ing 20,000 3.0-litre Volk­swa­gen, Audi and Porsche diesel ve­hi­cles that were caught up in an emis­sions cheat­ing scan­dal. The agree­ment was reached by Volk­swa­gen and Cana­dian class coun­sel in con­sul­ta­tion with the Com­mis­sioner of Com­pe­ti­tion. In ad­di­tion to the pro­posed set­tle­ment, which is sub­ject to court ap­proval, Volk­swa­gen Group Canada has agreed to pay a $2.5-mil­lion civil penalty. If ap­proved, cash pay­ments will be made to roughly 15,000 own­ers and lessees of model year 2013-2016 Volk­swa­gen, Audi and Porsche 3.0L diesel ve­hi­cles who re­ceive the re­call for an emis­sions re­pair as well as an ex­tended emis­sions war­ranty.

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