A new Volkswagen settlement deal is set to offer owners of VW, Audi and Porsche vehicles with 3.0-liter engines buybacks or repairs.
Volkswagen would pay vehicle owners $1.2 billion in the proposed settlement, which is the latest deal related to a scandal in which VW was caught cheating on diesel-emissions tests, according to the Car and Driver blog.
The deal could be approved in May, with the plan said to account for nearly 80,000 Volkswagen, Audi and Porsche vehicles that contain “a cheating mechanism,” NPR noted.
According to NPR’s Soraya Sarhaddi Nelson, vehicle owners “who opt for fixes will get between $7,000 and $16,000 as well as an additional $500 if the fix hurts their car’s performance.”
Owners who choose the buyback option are expected to get $7,500 plus whatever the value of their car is.
According to Green Car Reports, in the settlement, the automaker will offer buybacks for the 2009 through 2012 vehicles. VW will also give owners the option of receiving a trade-in credit on another vehicle.
As for the 2013 through 2016 vehicles, which make up 65,000 of the cars included in the $1.2 billion settlement, those will be modified at no cost to the owners.
Hinrich J. Woebcken, Volkswagen’s president of American operations, said the company will “continue to work to earn back the trust of all our stakeholders and thank our customers and dealers for their continued patience as this process moves forward,” NPR noted.
According to NPR, earlier deals include:
- A $4.3 billion agreement announced in January to settle civil and criminal allegations involving about 590,000 U.S. vehicles.
- A $14.7 billion deal approved by a judge in October involving owners of 500,000 of vehicles with 2.0-liter diesel engines.
- A $1.2 billion deal announced in August to compensate franchise dealers.
- $4.7 billion in environmental reparations administered by the EPA.
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