2008 Volkswagen Passat Komfort Sedan 4-door 2.0l on 2040-cars

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VW's credit ratings could take a beating

In addition to a significant drop in its share price already, Volkswagen's diesel emissions scandal is continuing to have major financial repercussions on the German automaker. According to The Detroit News, credit rating agencies like Standard & Poor's and Moody's changed their forecasts on the company to negative, and Fitch has considered doing so, as well. Volkswagen appears to have the money to cover the costs of this ordeal, but the agencies question the effect that this has in the long term. "Moody's concern, however, is that Volkswagen's alleged breach of US environment rules and, especially, the process by which that breach occurred, will have an adverse effect on its reputation and credibility within the global passenger car markets," the company wrote in a note to investors, according to The Detroit News. VW has initially set aside $7.25 billion to fix things, but the potential shakeup of top executives has caused some investor uncertainty, too. The actual costs for VW to deal with this scandal are still unknown. In the US, the Department of Justice has begun a criminal investigation, and with other automakers the government has settled for $900 million against General Motors and $1.2 billion against Toyota. Attorneys general in 29 states have started looking deeper, according to The Detroit News, and regulators in Europe, South Korea, and Canada have commenced their own probes, as well. Related Video:

Angry diesel owners joining lawsuits against Volkswagen [w/video]

Livid at the prospect of losing thousands of dollars from the value of their cars and performance from their diesel engines, many owners of Volkswagens are headed to court. A law firm with a track record of suing automakers has already filed three class-action lawsuits against the German automaker related to its emissions-cheating scandal and says a fourth one is on the way. The lawsuits, filed by national firm Hagens Berman, accuse Volkswagen Group of America of fraudulent concealment, false advertising, and violations of federal and state laws. Plaintiffs in all 50 states have joined the class-action suits, according to the firm. A spokesperson says there has been "an unprecedented response" since the first lawsuit was filed within hours of an announcement from federal regulators last Friday. The lawsuits accuse Volkswagen Group of America of fraudulent concealment, false advertising, and violations of federal and state laws. Diesel owners paid thousands more for their vehicles instead of their gasoline-powered counterparts because Volkswagen's diesel engines ostensibly offered both torque and fuel economy. Now affected car owners are faced with a double-whammy – the value of their cars has diminished with the news and the purported software fix that brings the cars in emissions compliance will likely lower their performance and gas mileage. "Hundreds of thousands of consumers put their trust in VW when they looked to its 'Clean Diesel' line for an efficient, environmentally conscious diesel option," said Steve Berman, managing partner. "But for years, VW cheated the system. Its TDI line of fast but 'good-for-the-environment' cars seemed too good to be true, and they were." In its latest court filing, Hagens Berman lawyers said that car owners believed their vehicles were in compliance with Environmental Protection Agency standards and that the cars would retain their operating characteristics throughout their useful lives. Another firm, Girard Gibbs, has also filed a lawsuit over the diesel deception. "These Volkswagen vehicles should never have been sold, and certainly should not have spent the past six years on American roads polluting our air," said Eric Gibbs, the lead attorney. "Not only does this kind of fraud harm consumers and the environment, it negatively impacts competition, which is what drives our free-market system.

Least satisfying vehicle rankings seek to highlight the worst cars of the year

Consumer Reports polls its members on all sorts of topics related to how they buy and use products ranging from mobile phones to humidifiers for indoor plants. Cars are regularly one of CR’s most interesting topics, and its recent study on the least satisfying vehicles to own offers insights into the cars people wish they hadnÂ’t purchased. CR polled thousands of members with questions about what they liked and disliked about the vehicle theyÂ’d owned for a few years. When asked if they would definitely repurchase the same car, the following vehicles came back as the least likely to be purchased a second time: Kia Forte: 51% would buy again Nissan Altima: 51% would buy again Nissan Kicks: 49% would buy again Volkswagen Taos: 48% would buy again Kia Seltos: 48% would buy again Jeep Compass: 46% would buy again Mercedes-Benz GLA: 45% would buy again Infiniti QX50: 40% would buy again Mercedes-Benz GLB: 39% would buy again Volkswagen Atlas Cross Sport: 38% would buy again When Autoblog tested the VW Atlas Cross Sport in March 2022, we liked the styling and the price was right, but it lagged rivals in driving excitement and interior quality. A number of recalls donÂ’t help the Cross SportÂ’s cause much, either, as some models have more than a dozen actions by the National Highway Traffic Safety Administration. Even the 2023 model already has four recalls. The annoyance of recalls and the hassle of just-average reliability ratings could have played into the Cross SportÂ’s place as the least satisfying vehicle. On the other end of the spectrum, the Chevrolet Corvette earned the top spot as CR's most satisfying car. The Porsche 911, Rivian R1T, Ford Maverick Hybrid, and Hyundai Ioniq 5 round out the top-five most satisfying vehicles to own. Given the rabid following the 911 has built over the years and the insane performance Chevy derived from the latest Corvette, itÂ’s not surprising to see them in the top spots. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Infiniti Jeep Kia Mercedes-Benz Nissan Volkswagen Car Buying Used Car Buying Consumer Reports worst cars