FTC: VW and Porsche repaid over $9.5B to deceived clients

Monday, 27. July 2020 20:41

The United States Federal Trade Commission reported on Monday, during the last summary filed in federal court, that Volkswagen and Porsche repaid over $9.5 billion since 2016 to car buyers under the FTC’s orders after both companies were charged for fraudulent "clean diesel" advertising of their vehicles.

In its Final Status Report, FTC said that over 86% of deceived customers chose to return their car through a buyback or early lease termination and that "the FTC orders and related private class settlements provided redress sufficient to compensate consumers fully."

FTC also added that in spite of the many claims, Volkswagen had "successfully managed the settlement administration process effectively."

Related Links: Porsche Automobil Holding SEVolkswagen AG
Author:
Breaking the News / TF