The EPA accused Fiat Chrysler Automobiles NV of illegally using hidden software to allow excess diesel emissions to go undetected, the result of a probe that stemmed from regulators’ investigation of rival Volkswagen AG.
In total, Volkswagen has agreed to date to spend up to $16.5 billion in connection with the diesel emissions scandal, including payments to dealers, states and attorneys for owners. The scandal rattled VW’s global business, harmed its reputation and prompted the ouster of its CEO.
The German car maker has still not decided whether vehicle owners will be offered cash, car buy-backs, repairs or replacement cars.
Lawsuit will seek hundreds of millions of euros in damages on behalf of 66 institutional investors from the United States and Britain.
Refitting 11 million cars would be among the biggest recalls in history by a single automaker, a move analysts have said could cost more than $6.5 billion.
The scandal keeps growing. German transport minister Alexander Dobrindt said on Thursday Volkswagen had also cheated tests in Europe, where its sales are much higher than in the United States.
Martin Winterkorn: “Volkswagen needs a fresh start — also in terms of personnel. I am clearing the way for this fresh start with my resignation.”
Late on Monday, Volkswagen’s U.S. chief Michael Horn said the company had “totally screwed up” and promised to make amends.
By Paresh Dave, Los Angeles Times A contentious effort to unionize a foreign brand’s automobile factory is scheduled to reach a courtroom Monday, and the case appears far from resolution. A U.S. senator, the Tennessee governor and several state lawmakers are fighting subpoenas served by the United Automobile Workers union ordering them to appear in court […]
Feb. 21 (Bloomberg) — I asked Rich Yeselson, a former union strategist and author of this excellent article on the United Automobile Workers’ failed effort to unionize a Volkswagen plant in Chattanooga, Tennessee, to answer a few questions, via email, about the meaning of the Chattanooga vote and the future of unionism in the U.S. […]
When a company is not fighting against a union, why do that union’s efforts fail — and what does that say about the U.S. model for labor? Current management theory recognizes that businesses do better when employees are involved in decision making. But that trend ran smack into the paternalistic view that workers are replaceable […]
Chicago (AFP) – Workers at German auto giant Volkswagen’s plant in Tennessee were voting Wednesday on whether to form a union, a decision seen as a referendum on the health of the U.S. labor movement. The United Auto Workers (UAW) has never managed to organize in an American plant owned by a foreign manufacturer, and […]
Detroit (AFP) – General Motors said Tuesday that it sold 9.71 million cars last year, beating out rival carmaker Volkswagen but likely only holding onto second place behind world leader Toyota. GM said it managed a 4 percent gain in global sales despite tough conditions in depressed Europe and slowdowns in Latin America and parts […]