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Volkswagen, Bosch reach diesel settlement worth $1.6 billion

Volkswagen Group of America and automotive parts maker Bosch reached a settlement in which the two companies will pay a combined $1.6 billion because of their roles in the automaker's diesel-emissions scandal. VW, Europe's largest automaker, will pay about $1.2 billion to either repair or buy back vehicles. Bosch said separately that it will pay more than $300 million to owners of diesel-powered Volkswagens, Audis, and Porsches. The settlement stems from emissions issues related to about 78,000 VW-made cars and SUVs with 3.0-liter V6 diesel engines that were sold in North America. VW will recall and repair about 58,000 vehicles made for the 2013-through-2016 model years. The company will also buy back, offer a trade-in credit, or terminate the leases for about 20,000 cars for the model years 2009 through 2012. The older impacted models are the Volkswagen Touareg and Audi Q7, while the newer ones are the Touareg and Q7 as well as Audi's A6, A7, A8, A8L, and Q5 models, and finally the Porsche Cayenne Diesel. Previous reports estimated the payout at closer to $1 billion. The US settlement follows one reached last year between VW and US regulators in regards to VW's 2.0-liter diesel engines. That settlement was estimated to cost VW about $15 billion and impacted owners of about 500,000 vehicles. VW has had a stop-sale on its diesel vehicles in the US since late 2015 after it was discovered that VW installed software in its diesels that allowed those vehicles to cheat emissions-testing systems. VW on Wednesday also reiterated that it would contribute $225 million towards environmental-remediation efforts in the US. Volkswagen of America CEO Hinrich J. Woebcken, in Wednesday's statement, said that "we will continue to work to earn back the trust of all our stakeholders and thank our customers and dealers for their continued patience as this process moves forward." Related Video: News Source: Volkswagen via Automotive News-sub.req.Image Credit: Shannon Stapleton / Reuters Government/Legal Green Audi Porsche Volkswagen AutoblogGreen Exclusive Emissions Diesel Vehicles vw diesel scandal scandal settlement

2013 Volkswagen GTI Driver's Edition brings exclusivity to the granddaddy of hot hatches

The Volkswagen booth at this year's Chicago Auto Show was filled with various special edition models of the Beetle and GTI. In addition to the GTI Wolfsburg Edition, the Volkswagen GTI Driver's Edition helps to wrap up the 2013 model year as VW readies the all-new MkVII Golf next year.
Only 3,000 of the GTI Driver's Edition models will be produced in four-door body style only, and the available color palette will be limited to just Candy White, Carbon Steel Gray and Deep Black. The package will come standard with the GTI's Sunroof and Navigation package, and it will add unique features such as the 18-inch "Laguna" wheels, a golf-ball shift knob, partial leather seats and red-stitching on the carpeted floor mats. Buyers of this package will also get a certificate of authenticity and some GTI swag such as a hat, keychain and parking sign.
Starting price for the 2013 Volkswagen GTI Driver's Edition is $29,695 with the six-speed manual and $30,795 if you choose the DSG - both prices exclude destination charges.

Bosch: Diesel demand still strong, despite VW scandal

Like an auto racer's results on the circuit, Volkswagen's recovery from its diesel-emissions scandal may well depend on spin control. That's what Bosch Chairman Volkmar Denner said in recent remarks at an event in Germany, Reuters reports. Bosch is a major VW supplier, of course, so it does have some skin in the game. Denner said he hasn't seen signs that demand for diesel vehicles has fallen yet in the wake of a scandal in which software in VW diesels was programmed to game emissions-testing systems. Denner says the ultimate impact on diesel sales will depend largely on the "campaign" VW will use to assure the general public that its diesels remain a viable way for drivers to boost fuel economy and lessen their impact on the environment. Of course, there have been hints that VW may pivot to more electric vehicles and distance itself away from diesels in the coming years. As a VW supplier, Bosch has been connected to the diesel scandal, it has repeatedly said that the problems were all VW's fault. Europe's biggest automaker lost its CEO in the wake of last month's scandal and has set aside $7.3 billion to address the issue. As many as 11 million VWs may have been programmed with the cheating software. Governments around the world are trying to address the issue. France may eliminate diesel-fuel subsidies, while all VW diesels in Australia have been recalled. And California has given VW until November 20 to detail how it would fix the problem. Related Videos: Image Credit: AP Photo/Michael Sohn Green Volkswagen Emissions Diesel Vehicles vw diesel scandal