Volkswagen Poised to Offer a Mass Buyback Program

volkswagen poised to offer a mass buyback program

Dirty Volkswagen diesels equipped with illicit “defeat devices” could soon be flying off driveways and into oblivion.

Sources briefed on the matter told Reuters (via Automotive News) that the automaker will offer to buy back up to half a million 2.0-liter TDI models in the U.S. that emit illegal levels of smog-causing emissions.

They expect that Volkswagen will make the offer tomorrow before a federal judge. The company’s deadline for a U.S. fix is tomorrow, and a failure to act will result in a trial the automaker desperately wants to avoid.

Earlier today, we reported that the automaker is preparing to offer the U.S. owners of every maligned diesel vehicle $5,000. It now seems the money will be given to those who agree to a buy back or have their vehicles fixed when a fix becomes available. It was also reported today that Volkswagen is planning to set aside huge sums of cash on top of an existing $7.6 billion fund aimed at dealing with the financial fallout of the scandal.

Those same Reuters sources said that a buyback isn’t the only thing Volkswagen representatives might pitch at the judge. The automaker might offer to fix some diesel models, they said, assuming that the Environmental Protection Agency declares that some of the affected vehicles are capable of being fixed.

A lawyer for Volkswagen first raised the possibility of a buyback program back in January. So, if you’ve got a dirty TDI sitting in the garage that’s rapidly depreciating in value, tomorrow will be a big news day for you.

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  • Seth1065 Seth1065 on Apr 21, 2016

    As a TDI owner I am glad there is some movement on this, and I am surprised if VW is gonna buy it back and give you 5K for your trouble in cash, I assumed it would have been as a carrot to keep you in a VW, one thing that I am not sure about is , what happens if I do not want to trade my car in, I have a 11 that I bought new and has about 125,000 on it, yes I put some money in it but it has been a great car for what I need, lets say VW said it was worth 12k before scandal and here is 5K more so I have 17K to replace it with. I timed my car purchase so it would be paid off while I am paying collage tuition so I am not looking to take on more debt now, can I keep said car and wait for VW to come up w a fix? I assume the EPA will not just allow VW to keep the cars on the road as they are.

    • DenverMike DenverMike on Apr 21, 2016

      It depends on what's negotiated. If nothing's negotiated, your TDI has to get "off road'ed" or someone has to pay a huge fine/fee for it to remain on the road 'as-is'. Probably $20,000 or more.

  • Mcs Mcs on Apr 22, 2016

    Sort of off topic about the location that photo is from. You can get some very interesting routes if you punch in San Francisco as a destination on Google maps from that area. You'll be in for the ride of your life. Not for the faint-of-heart. I think the best I got was from around 500 Easterby Street off of Bridgeway in Sausalito. The route was on roads that were like paved hiking trails with houses on them. Extra points if you're in a large vehicle.

  • FreedMike I’m for pretty much anything that goes fast. The more, the merrier.
  • ToolGuy 16.9 gallon fuel tank (~15 usable in the real world) combined with abysmal fuel economy means the range of your girlfriend's EV will look pretty good by comparison. 😉
  • ToolGuy Cadillac should make a list of everyone who gets excited by this announcement, and never listen to those people again.
  • Jkross22 My use case is perfect for an EV. I drive about 10 miles/day tops, have a home so I can recharge at night, love how much more efficient an EV is over its ICE counterpart and love the instant torque, quietness, lack of moving parts/reliability/cost of maintenance. I'm the poster child for EV ownership.But I don't have one and don't see buying one anytime soon. As intriguing as they are, there is no way in Haiti I'm dropping 50 large minimum to buy one. Not gonna happen. The Bolt looks like a toe, I really don't like Tesla interiors, I love the Lucid and Polestar 2, the H/K electrics are interesting but look at the price of all of these.
  • ToolGuy The only good thing about this car is the wheelbase.