Good news, owners of Volkswagen, Audi and Porsche models powered by a 3.0-liter TDI engine — your heavily polluting diesel probably won’t have to be bought back and scrapped.
It’s like the Rapture, but for polluting German vehicles.
Starting this fall, owners of the 466,000 defeat device-equipped Volkswagen and Audi 2.0-liter TDI models still left on the road will head to their dealer, hand over their keys, sign a mountain of paperwork, and walk away with a fat check issued by the bean counters in Wolfburg.
So, what happens to your once-trustworthy diesel-powered steed after the buyback? (Read More…)
Volkswagen is making sure everyone is getting the right message today, and that includes its American dealers.
Thanks to a tipster, TTAC has obtained a video sent by Volkswagen of America executive to its dealers.
Imagine for a second that the cash Volkswagen must now spend to get itself out of trouble in the U.S. was a pile. It would be a great day for tobogganing.
The initial settlement for the diesel emissions scandal — vehicle buyback, compensation, make-the-air-nice-again programs — rings in at $14.7 billion, but the automaker has roughly $18 billion set aside to handle all of the American fallout.
When it comes to cash, the bigger the number, the harder it is to imagine what that figure really looks like. What could it buy? How many bananas is that? Well, there are countries that make less money in a year than Volkswagen, maker of the Jetta, just paid out to one country. (Keep in mind, there’s more countries waiting in the wings for their cash.) (Read More…)
With the settlement now filed with the courts between Volkswagen, regulators, and other plaintiffs in the ongoing diesel emissions scandal, the United States District Court Northern District of California has published the exact figures for buy backs and settlement figures.
Click the jump to find out how much money you’ll receive for your affected Volkswagen and Audi 2.0-liter equipped TDI.
We don’t yet know the exact price of Volkswagen USA’s 2017 Golf Alltrack.
We are certain, however, that Volkswagen, a company with a brand image severely tarnished in the United States, will be able to do no better than slightly undercut the basic price of the Subaru Outback.
And that might be a problem. (Read More…)
Christmas is coming early for owners of polluting Volkswagen TDI models now that the automaker has agreed to pay up to $14.7 billion to settle claims in the diesel emissions scandal.
Volkswagen’s settlement with the federal government, owners and regulators will see it buy back some 475,000 2.0-liter diesel vehicles in the U.S. at pre-scandal values and offer their owners up to a cool $10,000 in extra compensation, according to figures reported by the New York Times. (Read More…)
Owners of the 482,000 2.0-liter TDI models caught up in the diesel emissions scandal will get cash compensation tied to the age of their vehicle, anonymous sources said today.
Volkswagen won’t release details on its buyback/fix/remediation plan until Tuesday of next week, but sources briefed on the matter blabbed to the media despite a court-imposed gag order. The Associated Press puts the cost of settling the U.S. fallout at $10.2 billion, with some of that money going towards government penalties.
It’s already known that Volkswagen plans to buy back (or fix, at the owner’s request) 2.0-liter diesel models sold from 2009 on. What’s murky is whether the figures quoted by the sources relate to the vehicle buyback or the separate compensation expected to be handed to owners. (Read More…)
If you’ve long since erased the Volkswagen Jetta Hybrid from your memory bank, don’t worry. Buyers forgot about it at the same time, and the automaker is prepared to do the same.
When Volkswagen rolled out a list of changes to its 2017 year vehicles today, the Jetta Hybrid was nowhere to be seen. Instead, the automaker placed a note in its empty chair, reading “Jetta Hybrid no longer available.”
It was an undignified (but not unexpected) end for a very unpopular model — one the automaker doesn’t need weighing it down as it tries to streamline its operations in a bid to save cash. (Read More…)
Let’s hope the cutlery was plastic and the sandwiches didn’t come with toothpicks.
Amid an investigation into the emissions scandal that recently ensnared the company’s ex-CEO and current brand chief, Volkswagen shareholders big and small gathered today to calmly discuss the company’s actions and finances.
By all accounts, the calm didn’t last. (Read More…)