One of the things VW regrets most in recent years is “emissions cheating” on diesel cars, where Volkswagen has spent more than $200 billion on fines and related legal costs. But the “old account” has not been completely turned over, and now, Volkswagen’s troubles are not over.
Volkswagen has suffered another blow in a class action in the UK over the diesel-gate emissions scandal, with a court appeal rejected,media reported.
This means that the compensation lawsuit suing by the owners can continue and nearly 90,000 affected Audi, Siat, Skoda and Volkswagen owners will be compensated by 2022.
A VW spokesman said it was “disappointed” by the Court of Appeal’s decision but “respected it.”
VOLKSWAGEN HAS PREVIOUSLY ADMITTED THAT ITS DIESEL CARS DID NOT MEET EMISSIONS STANDARDS AND AVOIDED REGULATORS THROUGH “EMISSIONS CHEATING”. However, Volkswagen believes that it is not necessary to compensate the consumer as it did not suffer any damages in the incident.
However, the UK’s nearly 90,000 owners of VW’s diesel “emissions gates” have not been bought, launching a class action that has demanded compensation for installing illegal “efficiency-reducing devices” to cheat European emissions standards. Meanwhile, the class action is likely to be the largest consumer lawsuit in British legal history.
It is worth mentioning that in the U.S. market, Volkswagen’s performance has to be “submissive” a lot. In the past month, affected U.S. car owners filed a class-action lawsuit against Volkswagen because of “diesel emissions cheating.”
VW had to pay $5,100 to $10,000 in compensation to each consumer, totalling $9.8 billion.
In addition, on July 30, Volkswagen disclosed its first-half results. In the January-June period, VW’s sales revenue was 96.1 billion euros ($790.9 billion), down 23.2 percent from a year earlier, while pre-tax profits fell to 1.4 billion euros ($11.5 billion), the data showed.
What’s more, Volkswagen said it spent 700 million euros ($5.75 billion) on special projects in the first half of the year because of diesel emissions, half of its group’s pre-tax profits.
Even so, The Volkswagen Group expects full-year operating profit to be on track for positive growth, although the return is lower than the previous estimate of 9 per cent.