VW Settlement - $5100 to $10,000 per customer

Under the deal, VW will set aside $10.03 billion to cover costs including buying back vehicles at pre-scandal values and compensating drivers as much as $10,000 per car for their troubles, two people familiar with the negotiations said. Those figures could rise if VW misses certain deadlines. In addition, Volkswagen will pay $2.7 billion in fines that will go to the U.S. Environmental Protection Agency and the California Air Resources Board, and $2 billion on clean-emissions technology, one of the people said.

 

From your source:

The settlement terms, first reported by Bloomberg News, are to be submitted on Tuesday to a federal judge in California.​

I think it makes sense to wait until the settlement is announced by the court. My understanding is then there will be a period of public comment. As much as I appreciate the angst of cheat-diesel owners, we really need to see the official versions. It wouldn't be the first time that a 'leaked' report has been subsequently found to be less than accurate.

Bob Wilson

 

Volkswagen Group of America, Inc. | Federal Trade Commission

Here are the official court documents. As I posted in the Environment forum thread, I'll get a total of $30,124 for my Jetta Sport Wagen TDI - that I paid $29,000 for in June, 2012. This is a lottery win for current owners. You can also drive for another 2.5 years without losing any of your value, as long as you keep mileage below 1,042 per month.

 

Man you guys are lucky as hell. That's like getting paid to drive their car for 4 years.

 

What happens to the cars that get bought back? VW then updates the software and does a retrofit to make them compliant and sells them on the used car market? I myself might want to buy a used one as I've always wanted to do a diesel to veggie oil retrofit but the cost has always been too high to buy a diesel.

 

The problem is it only had enough hardware to pass the test. Sometime the cheat failed and led to hardware failures. So VW made the cheat logic better and issued a recall so the emissions hardware would remain idle and not fail.

Bob Wilson

 

If VW can offer an affordable SCR retrofit for the Gen 1 cars (2009-2014 Golf, Jetta, JSW, Beetle), it will do so and save the buyback money on the subsection of those owners who'd rather take the fix and keep their cars. It would entail a significant hardware fix costing several thousand $$, and is most likely unworkable. The buyback cars will be crushed, not fixed and resold.

 

There is a pending court case, backed up with data, suggesting the cheat-diesels may cover a larger interval than just the initial, 2009-2014. CARB and EPA just stopped the 'current' products, stopped digging the hole deeper. There are reports the current, cheat-software dates from 1999 so VW waited until 2009 to use it?

Bob Wilson