Over the summer, Porsche and its parent company Volkswagen AG agreed to a settlement worth at least $80 million to settle a lawsuit over its diesel emissions cheating scandal. Today, Reuters reports a judge finally approved the settlement that involves around 500,000 diesel-powered Porsches built between the 2005 and 2020 model years. Porsche will also have to pay an additional $24.5 million to cover plaintiffs’ lawyer fees and costs.
“Owners of eligible vehicles will receive payments of $250 to $1,109 per vehicle,” Reuters reported back when the story broke. Only U.S. Porsche owners will be eligible for the payments outlined in the settlement.
So far, the diesel emissions cheating scandal has cost Volkswagen AG more than $20 billion in total after it was accused of physically altering vehicles used in emissions testing and using software engine management software to trick regulators into believing its diesel vehicles actually complied with emissions requirements. Those test vehicles reportedly ran cleaner and got better fuel economy than the ones Volkswagen sold to customers across its portfolio of brands.
To receive their compensation, owners will need to have their vehicles updated with new software that brings them into compliance with U.S. emissions regulations.
Volkswagen isn’t the only automaker to be accused of selling vehicles with diesel engines that didn’t meet U.S. emissions regulations. A few months ago, Stellantis was ordered to pay $300 million as part of a criminal plea bargain over its own diesel emissions scandal. And that’s on top of the $800 million it had already paid. Similarly, Hino, a Toyota subsidiary, admitted earlier this year that it had falsified emissions data.
Hopefully, the fines, settlements, and general overall cost have been high enough to make sure other automakers don’t try the same thing.