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Volkswagen settling fuel economy claims in US for $97M

German automaker Volkswagen AG agreed to pay $96.5 million to settle claims that some of its cars sold in the U.S. overstated their fuel economy ratings.

The settlement is the latest in a years-long string of legal and regulatory actions related to the company's emissions controls and standards. In 2015, the company was found to have installed software in vehicles that automatically shut off their emissions-monitoring controls during real-world driving. The scandal has cost the automaker roughly $30 billion in recalls, settlements, fines and penalties.

The claims concerned the ratings of approximately 98,000 model 2013 to 2017 gasoline vehicles sold or leased in the U.S. According to the U.S. Environmental Protection Agency, which was investigating the company in partnership with the California Air Resources Board, the auto software used in the cars — which included Audi, Bentley, Porsche and Volkswagen vehicles — overstated real-world performance.

The regulators said the vehicles' software caused the transmission to shift gears during EPA-prescribed emissions tests in a manner that would sometimes optimize fuel economy and greenhouse gas emissions, but the same was not true under normal driving conditions.

Eligible customers will receive payments of $5.40 to $24.30 per month their vehicles were owned or leased. Volkswagen will also forfeit some of its greenhouse gas emissions credits to account for the understated greenhouse gasses emitted from the cars.

The settlement, which is subject to court approval, does not require Volkswagen to admit any liability or wrongdoing.