Volkswagen Announces $15B Emissions Settlement

[blwnsmoke]

Ouch!! Major points have been quoted. Still does not state what the fix consists of.

 

https://www.yahoo.com/gma/volkswagen-set-announce-15b-emissions-settlement-124441523--abc-news-topstories.html

 

 

 

 

Affected owners will have the choice of having Volkswagen repair or buy back the polluting vehicle and owners of the affected vehicles can expect to receive up to $10,000 in cash compensation.

 

 

 

Consumers have until May 2018 to make the decision as to whether they will have Volkswagen buy back or fix their car, the Department of Justice announced today.

 

 

 

According to Yates, this does not resolve the government's "active and ongoing" criminal investigation into Volkswagen's actions.

 

 

 

Owners of the affected vehicles can expect to receive $5,100 to $10,000 in compensation. The DOJ explains, however, that the buyback payment will be adjusted if the car has higher or lower than standard mileage when the owner brings it into a dealership to participate in the settlement program, and the minimum amount owners will receive will not be less than $5,100.

Edited June 28, 2016 by blwnsmoke

[jasonj80]

My biggest issue is that VW gets fined if people don't get their cars fixed or bought back in 2019. Unless the States finally step up and don't allow people to renew plates on vehicles with open recalls on them this is absurd. You can't force people to get something fixed, people just ignore the recall notices.

Edited June 28, 2016 by jasonj80

[akirby]

My biggest issue is that VW gets fined if people don't get their cars fixed or bought back in 2019. Unless the States finally step up and don't allow people to renew plates on vehicles with open recalls on them this is absurd. You can't force people to get something fixed, people just ignore the recall notices.

 

I agree. Unless VW has the ability to legally repossess them.

[bzcat]

My biggest issue is that VW gets fined if people don't get their cars fixed or bought back in 2019. Unless the States finally step up and don't allow people to renew plates on vehicles with open recalls on them this is absurd. You can't force people to get something fixed, people just ignore the recall notices.

 

That's why the buyback offer is so rich... people will be dumb to turn it down. http://jalopnik.com/heres-exactly-how-much-volkswagen-will-pay-you-for-your-1782745097

 

And a lot the newer affected TDI car are under lease, which VW will just take back.

[RichardJensen]

My biggest issue is that VW gets fined if people don't get their cars fixed or bought back in 2019

 

I am perfectly fine with this.

 

VW broke laws in order to make these vehicles appealing to customers. If they subsequently have to pay hefty fines because their little plan was too successful, I for one am not going to be complaining.

[hermans]

I'm sorry, but after reading the article and looking at the charts......I have to go wrap my head in duct tape.

[fordmantpw]

Makes me want to go buy a VW so I can get the buyback money.

[RichardJensen]

Makes me want to go buy a VW so I can get the buyback money.

 

Wonder if they'll set a date for that.

 

Then you'd see listings for VWs like stock prices: "2012 Jetta TDI x-DIV"

[fordmantpw]

Found this little tidbit in the article:

 

 

 

And if the car has changed hands since September 18, 2015, the owner restitution payment will be divided 50/50 between the current owner and the one who owned it as of September 18th.

 

I wonder what they do for cars with a prior salvage title?

 

Looking on craigslist, there are some pretty good deals to be had when you take the modification payment into account. A 3 year old loaded Passatt SEL with 49k miles for $13k is a pretty decent deal.

[blwnsmoke]

https://www.yahoo.com/news/vw-pay-california-additional-86-160544559.html

 

 

 

Reuters reports that $76 million of the California civil penalty will go towards paying for investigations and legal fees stemming from this scandal, while the remainder will go towards preventing future use of defeat devices in emissions-controlled vehicles. This $86 million fine is in addition to $800 million earmarked for California as part of the automaker's $14.7 billion settlement.

 

 

I don't remember reading this little interesting tidbit..

 

 

 

Meanwhile, Germany's government has decided it will not fine Volkswagen at all for the emissions-cheating diesels the automaker sold in its home country, though it will require VW to fix its cars to make them emissions-compliant.

[J-150]

 

 

I don't remember reading this little interesting tidbit..

 

 

When VW has government ownership, don't expect that government to fine themselves.