Volkswagen may finally be getting some closure in the United States in regard to the emissions scandal that rocked the company last year.
The company submitted a federal court filing late Friday. The German automaker had settled with some 652 U.S. Volkswagen dealerships to the tune of $1.21 billion.
Averaged out, this gives each dealership about $1.85 million. The money is meant to cover the losses that the dealership saw when the emissions cheating scandal broke.
The settlement must be approved by a San Francisco judge. However, it does not guarantee that upset dealers and Volkswagen are done with one another. If not happy with the settlement, individual dealers can opt out and go to court against Volkswagen directly.
This deal is unrelated and separate from a deal between Volkswagen, the American government, California regulators, and consumers. That settlement will set the automaker back $14.7 billion.
This settlement is split between restitution and buybacks. Additionally, Volkswagen must either fix or remove from the roads at least 85% of the cars that it rigged by June 30, 2019. If unable to meet this deadline, Volkswagen faces additional fines and penalties that will be paid to an environmental mitigation fund.
Despite the scandal, Volkswagen maintains that buyers and those loyal to the VW brand remain steady.
If you have been affected by the Volkswagen emissions cheating scandal by either owning or leasing an affected vehicle, you may be entitled to compensation. Contact the “Strong Arm” attorneys at the law offices of John Foy & Associates. We may be able to help you get the compensation you deserve. Contact us today.