Jeep and Ram diesel owners get $3,075 in lawsuit settlement
Judge approves $800 million from FCA in diesel emissions suit
Owners of certain Ram 1500 and Jeep Grand Cherokees equipped with diesel engines will get up to $3,075 in compensation for repairs under a settlement of a class-action lawsuit against Fiat Chrysler over illegal emissions-cheating software. The roughly $800 million settlement was first announced in January and approved by a federal judge in California last week. read more »
Volkswagen unit Porsche to pay 535 million euro fine over diesel cheating
German prosecutors imposed a 535 million euro ($598 million) fine on German luxury carmaker Porsche AG, a unit of Volkswagen, as punishment for lapses in supervisory duties which allowed the company to cheat diesel emissions tests.
Prosecutors in the southern city of Stuttgart on Tuesday said that the company’s development department had neglected its legal obligations, which ultimately led to the sale of diesel cars that spewed excessive pollution levels.
The fine against Porsche follows a 1 billion euro penalty for management lapses imposed against Volkswagen by prosecutors in Braunschweig, and a fine of 800 million euros against Audi by prosecutors in Munich, Germany last year. read more »
BMW Q1 profits slump on $1.6B antitrust provision
BMW's first-quarter profits slumped after car sales in key markets slowed and the automaker revised a provision for a potential fine for alleged collusion to 1.4 billion euros ($1.6 billion).
Earnings before interest and tax (EBIT) declined 78 percent to 589 million euros compared to a year earlier, BMW said in a statement on Tuesday.