Photo: AFPBerlin: Volkswagen AG’s chief executive has rejected calls for the car maker to compensate customers in Europe over the ‘Dieselgate’ emissions scandal along the lines of its $15 billion deal in the US, telling a German newspaper a similar settlement would be inappropriate and unaffordable. Mueller also said while VW was on a solid financial footing, replicating the US deal in Europe would be tough for VW to cope with financially. “You don’t have to be a mathematician to realize that compensation at arbitrarily high levels would overwhelm Volkswagen,” he said. “We have a different situation here (in Europe),” Matthias Mueller was quoted as saying by Welt am Sonntag. Volkswagen (VW) says while VW was on a solid financial footing, replicating the US deal in Europe would be tough for VW to cope with financiallyEurope’s industry commissioner Elzbieta Bienkowska last week called on Volkswagen to also compensate European owners of its diesel-powered cars.

Source: Mint July 03, 2016 13:18 UTC