Volkswagen to Pay $14.7B in US to Settle Diesel Cheating Scandal
Volkswagen AG has announced that Judge Charles R Breyer has granted final approval to the settlement between VW and owners of 2.0-liter TDI cars that were found to be cheating on emissions tests.
“Final approval of the 2.0-liter TDI settlement is an important milestone in our journey to making things right,” said Hinrich Woebcken CEO of Volkswagen of America in a statement today.
Implementation of the settlement will begin immediately, and owners are encouraged to submit claims at VWcourtsettlement.com. Once a claim is approved, the owner can schedule an appointment with a dedicated settlement specialists.
Owners can choose a buy back or lease termination, or can choose a fix, although no such fix has yet been approved by regulators.
SEE ALSO: U.S. Volkswagen Engineer Charged in Diesel Probe
The settlement could cost up to $10 billion, not to mention an additional $4.7 billion in other finesthat were also approved by Judge Breyer today.
It is being reported that owners of some older Audis simply won’t have the option to fix their TDIs, but that affects the 3.0-liter TDI, which was not involved in this settlement. An update on the fate of that settlement is expected on November 3.
Although this is an important milestone, it’s far from the finish line for Volkswagen and Audi. The manufacturers still have to gain approval of a settlement for the more expensive 3.0-liter TDIs—fitted to Touaregs and Q7s among others—then actually buy back or fix all the cars.
This article originally appeared on VWvortex.com
Sebastien is a roving reporter who covers Euros, domestics, and all things enthusiast. He has been writing about the automotive industry for four years and obsessed with it his whole life. He studied English at the Wilfrid Laurier University. Sebastien also edits for AutoGuide's sister sites VW Vortex, Fourtitude, Swedespeed, GM Inside News, All Ford Mustangs, and more.
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