Islamabad, Oct 21: UK fines Volkswagen over mistreatment of customers
On Monday, a UK regulator said that it had punished a branch of Volkswagen, the German automaker, £5.4 million ($7 million) for the way it handled its financially troubled clients.
Additionally, after the Financial Conduct Authority revealed that Volkswagen Financial Services (UK) had been “failing to treat its customers in financial difficulty fairly,” the company agreed to pay more than £21.5 million, which will be divided among almost 110,000 consumers.
The Financial Conduct Authority (FCA) claimed that VW Finance had neglected to consider each customer’s unique situation or to offer customized support between the year 2017 and the middle of 2023.
This implied that UK fines Volkswagen occasionally took automobiles away from vulnerable clients without taking other measures into account. According to a statement from the FCA, “This ran the risk of placing people in a worse situation, especially if they relied on their car to travel to work.”
On Monday, Volkswagen Financial Services expressed regret to the people impacted and admitted that mistakes had been made.
In a second statement, it stated, “We acknowledge our mistakes in these previous cases and have made significant adjustments over recent years to ensure that we are always delivering the right level of service.”
“We recognise our shortcomings in these past cases and have made significant adjustments over recent years to ensure that we are always delivering the right level of service,” it said in a separate statement.
“We are in the process of concluding our remediation efforts as we continue to provide goodwill payments to affected customers and apologise for any detriment caused,” it added.
