ATLANTA — Volkswagen says the cheating scandal involving pollution coming from its diesel cars will cost the company $18 billion.
The controversy wiped out what would have been a profitable year. The German automaker posted a net loss of $4.6 billion.
Consumer investigator Jim Strickland learned local drivers say the terms of a settlement worked out with the government don't work for them.
"They were duped. And I don't think this class-action settlement addresses the fraud issues that were involved here," DeKalb attorney Alex Simanovsky said.
Simanovsky represents hundreds of Georgia VW owners in lawsuits separate from the federal cases covered by the settlement.
"I feel like a lot of people that bought the clean diesel, the TDI," Georgia VW owner Lisa Shippel said.
"(We) actually bought the car to help the environment when we weren't doing anything at all, maybe making it worse."
Shippel also opposes the settlement, which according to Reuters and The Associated Press includes buybacks and cash payments of $5,000.
The price of any buyback also concerns Simanovsky.
"The resale market for these vehicles has gone through the floor," he said.
Shippel has already tried to sell her car.
"Now I'm stuck with a car that really nobody wants to drive," she said.
"If I sold it, it would be worth so much less I'd have to practically give it away."
Details of a settlement are supposed to be fully worked out by mid -June.
Simanovsky is convinced those with individual cases stand a better shot at a fair shake.
"This is not a one-size-fits all situation," he said.
While not discussing details, Volkswagen said in a statement that the settlement is an important step toward regaining the public's trust.
Cox Media Group