Talk Money: June 30
Two major car companies are in the news, but their situations are very different.
Toyota New Zealand is recalling 36,961 new and used import Toyota and Lexus models due to a possible fault that could cause a fuel leak.
It involves a charcoal canister fitted to fuel tanks could cause them to crack. The free fix takes 2 - 3 hours.
Meanwhile, Volkswagen has reached a massive NZ$22 billion with US car owners after admitting it cheated emissions tests.
New Zealand drivers won’t receive cash compensation. Instead VW is fixing the vehicles.
It says the US emissions standards are six times more stringent, so VW in the US can’t use the software fix that is being rolled out here.