Volkswagen Caught In $1B Deal For Diesel Cars Emissions Scandal

Volkswagen reaches $1-billion deal on the last diesel cars caught in emissions scandal

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Top Car Companies To Fund Car Charging Points

Volkswagen, its Audi and Porsche luxury brands, BMW, Daimler, and Ford’s European division have joined forces to build more electric car charging sites across Europe. The joint venture wants to create 400 charging sites next year in order to boost the demand on electric vehicles.

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Volkswagen to Recall 91,000 Vehicles With TDI Engines Over Fire Risks

Volkswagen will start recalling 91,000 of its Passat 2012-2014 models in the U.S. over problems with the vehicle’s connector that could cause overheating and electrical short. The automaker is lately being clouded by scandals regarding emission and its vehicles.

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Volkswagen and Porsche Call Back 800,000 SUVs Over Potential Pedal Problem

Volkswagen and Porsche identified a potential problem in their Cayenne and Touareg model from 2011 to 2016 and are calling back 800,000 SUVs to undergo a service to address the issue. The companies said this is a precautionary move, as a U.S. judge demanded that the companies come up with a plan immediately.

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Audi posts 3% fall in 2015 profit owing to emission scandal

Audi AG reported a drop of 6.1% in its operating profit for 2015. The carmaker's profit after tax declined 3% owing to costs of repairing diesel engines related to emission scandal.

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Volkswagen Introduced Its New Luxury Sedan, Only for China Market

Volkswagen unveiled Phideon as its new luxury car today, ahead of Geneva International Motor Show. The successor of Phaeton will only be sold in China.

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Emission Scandal Contracts VW European Sales The Most, Pushing Recalls To Fix The Vehicles

Volkswagen is facing a drop in its sales due to the emission scandal on its engines. The Germany automaker has to conduct recalls to repair the troubled cars. This scandal also has opened chances for its rivals to grab its markets.

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Toyota plans to take over the rest of Daihatsu

Toyota Motor is seriously contemplating a buyout of Daihatsu Motor Co., which would give the company direct access to Daihatsu’s 660 cc mini vehicles. This investment would fetch Toyota great returns in the emerging markets and also enable leveraging of the low-cost production model that has long been Daihatsu’s competitive advantage.

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New Mexico Attorney General takes Volkswagen to court due to scandal emission

New Mexico has become the first US state to sue the German automaker, Volkswagen, for breaching the Clean Air Act with huge levels of emissions as well as for trade malpractices. The allegation is the company sold as many as 4000-10000 faulty models whose nitrogen-oxide emissions exceeded the limits by 40%, which could cost VW almost $20 billion in fines.

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Takata to meet major customers to discuss business forecasts

Takata Corp is reportedly planning to meet its major clients in order to discuss its business forecasts. The US transport authorities announced a fresh recall of about 5 million vehicles subsequent to the recent death caused by the Japanese firm's airbag inflators.

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European Car Sales Grew 9.2% in 2015, but Volkswagen Lost The Market

European car sales rose to 9.2% in 2015. Demand in December is recorded as the strongest one in the entire year. However, Volkswagen is excluded from the strong gain.

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Volkswagen proposed for a new catalytic converter for its car cheating scandal

Volkswagen has come up with a new solution to solve the car emission problem and is planning to install a catalytic converter to the car involved. The catalytic converter will also include installation of a urea tank to help break down the Nitrogen Oxide.

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Bugatti partnered with Palmer Johnson to create $3.5M super-yacht

Bugatti partnered with Wisconsin-based Palmer Johnson to develop an open-superyacht called Niniette, which costs $2.1 million to $3.5 million.

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Audi admits Volkswagen Installed Defeat Device in 85,000 more cars

Audi admitted that there are some 85,000 more Volkswagen cars with illegal defeat devices that can disable emissions control functions. According to Digital Trends, the vehicles are U.S.-spec cars with 3.0-liter TDI V6 engine, which are typically under the hoods of Audi models like the A6, A7, A8, Q5, and Q7.

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Drop in agriculture brings down Hungary economic growth in Q3 below forecast

Registering slowest growth rate during the past nine quarters, Hungary's economy growth rate was weakest during the third quarter ending September as agriculture production drop impacted the gross domestic product (GDP) significantly. The stagnant construction activity coupled with underscoring risks to the government's capacity to keep up the economic momentum has been adversely impacting the GDP growth rate.

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