Porsche profits have more than halved following the revelations in the Volkswagen diesel emissions scandal.
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Other angry VW owners who wrote to CNNMoney used terms like “slap in the face” and “scandalous” to describe the apologetic payout, which will come in the form of a gift card that can be used anywhere.
KBA said the probe was triggered by the scandal of Volkswagen which rigged its diesel engines with software to cheat in emission tests. VW says it hopes owners see this as a first step towards restoring trust.
A source at VW said the executive and supervisory boards initially sought to have the whistleblower program run through the end of the year but, encouraged by recent positive feedback, made a decision to set the more ambitious end-November deadline.
“Third party verified hints about conspicuous pollutant emissions” and registration figures have factored in the KBA’s selection of brands and models for further testing and investigation.
Volkswagen posted on the website, “Over the past several weeks, we’ve apologized to our loyal customers about the 2.0L TDI emissions issue”. In the report, it was alleged that the German manufacturer was installing a program in the engine’s computer that reduces power when the vehicle is tested.
VW owners have been frustrated as the German carmaker still has not engineered a fix for the diesels.
VW insists the offer comes with no strings attached.
Consumers don’t need to release any legal claims in order to receive the goodwill package, VW spokeswoman Jeannine Ginivan said.
Volkswagen said that 11 million cars equipped with defective software have been sold globally.
Also Monday, Fitch, the credit rating agency, downgraded Volkswagen’s debt by two notches to reflect the potential financial costs of the scandal as well as the management problems that led to the crisis in the first place.
The charges stem from Volkswagen’s use of software to dupe emissions tests, which Volkswagen conceded to the EPA in late August or early September.
Meanwhile, Germany’s Transport Ministry said Monday that of the 2. “Volkswagen should cooperate fully with federal criminal and civil investigations that will provide redress for taxpayers as well auto owners – the company needs to get serious”. Owners of the Audi A3, model years 2009-2015, will be compensated with a similar package to be announced soon.
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This group comprises 482,000 vehicles in the US, and does not include models with the 3.0-liter V-6 that were the subject of subsequent Environmental Protection Agency (EPA) allegations.
