VW to reportedly pay affected US TDI owners $5,000 EACH

[Mook]

VW Will Reportedly Pay U.S. Customers $5000 Each Over Diesel Cheating

After months of deliberations, it's said that Volkswagen and the U.S. government have finally come to an agreement over how VW will compensate American customers affected by the ongoing diesel emissions scandal. German newspaper Die Welt reported Wednesday that VW will pay affected U.S. customers $5000 each, per a Reuters report.

Volkswagen sold around 600,000 cars in the U.S. equipped with a so-called "defeat device," which allowed the cars to emit up to 40 times the legal limit of nitrogen oxide in real-world driving, but still pass mandated government emissions tests. Up to 11 million cars worldwide were equipped with this software.

A payout of $5000 per affected car in the U.S. would mean that VW would assumedly cost VW as much as total of roughly $3 billion. It's unclear if VW will carry out a recall to repair the affected cars after it financially compensates its customers.

Click to read more...

 

[Turbocharged400sbc]

now we know why Kevin got a sweet deal on a trade

 

[Blownbyyou]

I mean holy shit, that is pretty awesome!

 

[LikeABauce302]

Brb...trading in my daily for an already cheap VW and collecting a $5,000 rebate

 

[Bru]

$5,000 doesn't mean much until we know what the solution will be. If it's a buyback plus $5,000. Cool. But if it's $5,000 and they fix the car and then the car is less efficient and slower after the fix, then shit.

 

[Bru]

From the original:

The German automaker is expected to tell a federal judge in San Francisco Thursday that it has agreed to offer to buy back up to 500,000 2.0-liter diesel U.S. vehicles that used sophisticated software to evade U.S. emission rules.

 

[Mook]

Hmm, where did you get that at? Its not in the article.

 

[Eagle]

Well I'll be damned. I wonder if that includes the original $500 VW gift card and $500 Visa card they were offering... or if that can still be collected as well.

Honestly, I am interested in the fix... but $5000 doesn't do much to recover the lost value in these cars. Still not really satisfied as a VW customer.

My $.02

 

[Eagle]

Another article backing the $5k idea:

Volkswagen heads to court amid reports of compensation plan

 

[Bru]

Hmm, where did you get that at? Its not in the article.

R&T was pulling from a Retuers report published on Auto News:


http://www.autonews.com/article/201...customers-5000-each-to-settle-diesel-cheating

WASHINGTON -- Volkswagen AG and U.S. officials have reached the framework of a deal ahead of a Thursday court deadline, to remedy problems caused by hundreds of thousands of vehicles that are emitting up to 40 times legally allowable pollution, two sources briefed on the matter told Reuters today.

The German automaker is expected to tell a federal judge in San Francisco Thursday that it has agreed to offer to buy back up to 500,000 2.0-liter diesel U.S. vehicles that used sophisticated software to evade U.S. emission rules.

Volkswagen may also offer to repair polluting diesel vehicles if U.S. regulators approve the fix as workable at a future date, the sources said. But it is not certain if those vehicles will be deemed fixable by the U.S. Environmental Protection Agency.

Earlier today, Germany's Die Welt newspaper reported Wednesday that the deal to settle the case would involve it paying each affected customer $5,000.

You can reach at [email protected]. -- Follow on Twitter

 

[Mook]

Great reporting, R&T. NOW I LOOK LIKE AN IDIOT

 

[Mr_Roboto]

$5,000 doesn't mean much until we know what the solution will be. If it's a buyback plus $5,000. Cool. But if it's $5,000 and they fix the car and then the car is less efficient and slower after the fix, then shit.

If the EPA doesn't shut it down $5K buys a fuck ton of VW Tuner gear.

 

[LikeABauce302]

I wonder if states that do emissions testing will flag and automatically fail affected VW models, unless the owner can prove it was fixed.

 

[Eagle]

If the EPA doesn't shut it down $5K buys a fuck ton of VW Tuner gear.

I told the wife if they don't buy it back and de-tune to fix, I'm buying a tuner and turning up the wick! Let's see how well this thing can really pollute!

 

[Outlaw]

I told the wife if they don't buy it back and de-tune to fix, I'm buying a tuner and turning up the wick! Let's see how well this thing can really pollute!

Are there tuners out yet for the new 2.0 TDI's? I stopped following when I sold mine, but, Malone, APR and Kerma didn't have any idea when they'd have a tuner out for them last summer when I was wanting to buy one.

 

[Eagle]

Are there tuners out yet for the new 2.0 TDI's? I stopped following when I sold mine, but, Malone, APR and Kerma didn't have any idea when they'd have a tuner out for them last summer when I was wanting to buy one.

Seems like more and more there are tuners out there for the 2015 now.

 

[Eagle]

Another article:

Volkswagen expected to offer to buy back U.S. diesel vehicles - The Globe and Mail

 

[Bru]

That's the same Reuters article they seem to be updating as more news comes in.

 

[Eagle]

Fair enough

 

[Bru]

Good stuff being added.

 

[SHARKBITEATTACK]

What I can't figure out is why VW's stock went up 8% today?? I'm considering jumping ship now, especially after learning they may not offer a dividend this year.

 

[Thirdgen89GTA]

$5,000 doesn't mean much until we know what the solution will be. If it's a buyback plus $5,000. Cool. But if it's $5,000 and they fix the car and then the car is less efficient and slower after the fix, then shit.

Then you take the $5,000, and get a performance tune. :rollpicard:

 

[Eagle]

Then you take the $5,000, and get a performance tune, upgraded muffler, FMIC, fuel pump and turbo :rollpicard:

FIXT

 

[The Broken Regal]

wat

will be interested to hear update for that hearing tmmrw

Good thing I didn't sign anything yet except put down a deposit... wow

Geez

 

[nytebyte]

BRB, selling all VW stock.

On the other hand, I wonder if I can pick up one of these cars for cheap in the near future.