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  • Volkswagen Settles - VW to pay between $1000-$7000 to owners of affected diesel cars or buy them back which is expected to cost over $10 billion

    Ouch. Volkswagen's image (and stock price) took a huge hit in the dieselgate saga but let's hope this mess will finally be put behind all of us as frankly we're sick of it. The US government and Volkswagen finally came to terms and here are the details.


    - 482,000 cars involved
    - VW will pay $1000-$7000 per car depending on age and other factors
    - VW will fund environmental studies and programs
    - Settlement includes offer to buy back affected cars

    This will all cost over $10 billion dollars and this is why Volkswagen may begin to offload assets.

    Those who have leased vehicles will have the option to terminate their lease.

    The government is likely to assess further penalties which will require VW to pay into a created EPA fund depending on the calculations of just how much they polluted in excess.

    The government gets theirs, the lawyers get theirs, VW has a black eye, and business continues as usual.

    Source

    This article was originally published in forum thread: Volkswagen Settles - VW to pay between $1000-$7000 to owners of affected diesel cars or buy them back which is expected to cost over $10 billion started by Sticky View original post
    Comments 9 Comments
    1. Enfiftyfore's Avatar
      Enfiftyfore -
      My buddy has a Jetta tdi. He said the hearing was postponed until next week for when they will buy his car back. I think that they will pace the value of the vehicle before all of these shenanigans started. He just put some money down on an A3 tdi haha
    1. Stevenh's Avatar
      Stevenh -
      Well, if anyone is in to diesel tuning there is going to be a glut of used cars on the market in the near future. Shoot, I may pick up an A3 TDI if the price is right.
    1. Sticky's Avatar
      Sticky -
      Click here to enlarge Originally Posted by Stevenh Click here to enlarge
      Well, if anyone is in to diesel tuning there is going to be a glut of used cars on the market in the near future. Shoot, I may pick up an A3 TDI if the price is right.
      Only if VW actually issues a fix. They could just park the cars they buy back as they haven't solved the problem yet.
    1. 93siro's Avatar
      93siro -
      They can pull a GM and go bankrupt and tell these guys that it was the old VW and the new VW wouldnt do such etc...
    1. Sticky's Avatar
      Sticky -
      Click here to enlarge Originally Posted by 93siro Click here to enlarge
      They can pull a GM and go bankrupt and tell these guys that it was the old VW and the new VW wouldnt do such etc...
      I guess this option wasn't considered because they had the resources to weather this. If the fine was so large it would have made continuing to operate impossible they likely would have gone this route.
    1. onisyndicate's Avatar
      onisyndicate -
      I wonder what "environmental studies" they'll be funding. I bet it'll be like us bank payout. You pay 1$ to this group we will take 2$ off your tab. Oh I forgot to mention my family works for said environmental group.....
    1. Sticky's Avatar
      Sticky -
      Click here to enlarge Originally Posted by onisyndicate Click here to enlarge
      I wonder what "environmental studies" they'll be funding. I bet it'll be like us bank payout. You pay 1$ to this group we will take 2$ off your tab. Oh I forgot to mention my family works for said environmental group.....
      More or less. It's all bull$#@!.

      Basically VW has to fund whatever the eco nazis say they do in order to avoid stiffer penalties. They pay off environmental groups similar to how the NFL paid off domestic abuse groups after the Ray Rice thing.
    1. SVP03's Avatar
      SVP03 -
      Attachment 50223
    1. Sticky's Avatar
      Sticky -
      Click here to enlarge Originally Posted by SVP03 Click here to enlarge
      Good point.