U.S. District Judge Charles Breyer on Monday granted final approval to Volkswagen AG's settlement worth up to US$1.21 billion with 652 U.S. dealers over its diesel emissions scandal.
VW's dealers will receive an average of US$1.85 million each over 18 months under the settlement.
VW also agreed to keep making volume-based incentive payments to dealers, and will allow them to defer capital improvements for two years.
In total, VW has now agreed to spend up to US$22 billion in the United States to address claims from owners, environmental regulators, U.S. states and dealers stemming from the excess vehicle emissions.
- Magna shares fall as BMO warns Trump's border tax could 'wreak havoc' on auto parts makers
- Trump threatens German carmakers with 35% import tariff
- U.S. EPA locks in Obama's fuel efficiency rules through 2025
MORE CAR NEWS
Advertisement