More than 200,000 VW owners have opted for the Dieselgate buyback program, surprising some legal authorities with the speed with which it happened, about a month or a little more.
Although it is the more expensive option, Volkswagen may be happy that more than 200,000 consumers affected by the Dieselgate scandal are opting for the cash buyback and not a fix. The reason is that the automaker may avoid further penalties as each vehicle the carmaker buys back is one more off the road. VW must get 85 percent of the emissions-cheating cars off the road to prevent more penalties.
The settlement VW worked out with consumers and regulators to settle the class-action suit calls for:
- A cash buyback of affected vehicles
- Or, $5,100
- Or, a free fix, if one should be approved and become available
- VW Could Reach a ‘Final’ U.S. Settlement By October, Says Audi Exec (fortune.com)
- VW could agree US large-car diesel emissions settlement by October – Audi exec (channelnewsasia.com)
- VW Is Talking About Settlement Deals With U.S. States That Sued It (autoevolution.com)
- Porsche Owners In The US Plan To Sue Volkswagen In Demand For Dieselgate Compensation Package (autoworldnews.com)
- Report – VW looking to settle 3.0-liter TDI repair starting late October (inautonews.com)