What you need to know about the landmark settlement today between Volkswagen and the U.S. Government over the 2.0 liter Volkswagen TDI emissions cheating scandal.
VW and U.S. agreement settles DOJ and FTC civil claims for 500,000 2009-2015 2.0 TDI vehicles
– 10 Billion for buyback, lease termination, and fixing affected cars
– 2.7 Billion given to government managed trust to mitigate NOx pollution
– 2.0 Billion to build ZEV fueling and charging infrastructure, promote ZEV
Customer Options
– Buy back based on September 2015 Clean Value according to NADA + cash
– Loan forgiveness up to 130%
– Terminate lease free of fees + cash
– Get car’s emission system fixed + cash
– Actual customer dollar figures to be determined
– Approximately 2-years to decide on Buy Back
– 18 month/18,000 mile re-offer for fixed cars with mechanical issues
Cars to get fixes vary depending on generations
– Generation 1: 2009-2014 get most comprehensive fixes, fix by end of year (1-17)
– Generation 2: 2012-2014 Passat by end of year, (3-17)
– Generation 3: 2015+ quickest fix this summer (10-16)
Cars bought back can be resold or exported by VW
– Existing ECU will be removed
– Implement EPA and CARB approved fixes
– Label car and disclose it has been fixed and approved prior to resale or export
– Re issue official specs for fuel economy, performance, horsepower, and service intervals
VW or Audi TDI cars back on sale?
– Nothing in the agreements preclude future sale of revised TDI vehicles
Settlement to be approved July 2016, roll-out to begin by fall 2016.
– Have until June 2019 to fix or buy back cars – 85%
– Does not include 3.0 liter vehicles
– Does not prevent criminal action
More information:
www.VWCourtSettlement.com or www.AudiCourtSettlement.com.
