By James Barrie V olkswagen is seeking to reach a settlement with Canadian diesel vehicle owners similar to the one reached in the United States, the German newspaper, Handelsblatt, recently reported on the matter citing a spokesperson for the carmaker. In June, Volkswagen agreed to pay over $15 billion after admitting it cheated on U.S. diesel emissions tests for years. These funds are to be used to buy back vehicles from consumers and provide funding that could benefit makers of cleaner technologies. Volkswagen reportedly will set aside a little over $10 billion to cover buybacks or fixes for diesel cars and sport utility vehicles that used illegal software to defeat government emissions tests.
of the information.
Attempts were made to contact a spokesperson at Volkswagen’s head- quarters in Wolfsburg however, the only comment made by Volkswagen was that they were not commenting on media speculation and that they are in talks with the Canadian authori- ties, but there are no decisions yet. So it looks like Volkswagen is being tight lipped about more than their emissions while negotiations continue with the Canadian gov- ernment.
Volkswagen would be on the hook for up to $2 billion if it reached a similar settlement in Canada, the newspaper reported, without confirming the source
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AUGUST 2016 • SPOTLIGHT ON BUSINESS
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