Volkswagen to Create Compensation Fund
Volkswagen is creating a compensation fund for its diesel car owners.
Volkswagen addressed how it plans to move forward from its emissions scandal Monday at the North American International Auto Show. The automaker confessed last year to using technology to evade emission standards in about 11 million of its diesel vehicles. Michael Horn is the President and CEO of Volkswagen Group of America. He says the company will to set up a compensation fund for the owners of those vehicles.
“The objective is not to have long in court battles with attorneys. But to do an out of court independent compensation program for the customers,” Horn says.
Horn says the program will allow the process to move quicker with less hassle so customers can get their money faster.
Volkswagen hired attorney Kenneth Feinburg to handle the cases. Feinburg handled compensation claims connected to GM’s defective ignition switches.
