Volkswagen to Buy Back 500,000 Diesels

Posted by: Xavier Kwan onApril 21st, 2016

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The day of reckoning is upon Volkswagen and tomorrow will be the day they have to report to US regulators on how they plan to address their Diesel Emission Scandal. So far, negotiations between Volkswagen and regulators have resulted in nothing as the German auto company has not come up with any solutions that were satisfactory in the eyes of the regulators. With the April 21 date upon us, we await Volkswagen’s final plan to address both regulators and consumers. However, news is leaking that the solution plan will come with either a compensation package for consumers or a buy back by Volkswagen.

The buy back plan may result in Volkswagen ponying up big bucks to purchase up to 500,000 vehicles back from consumers at a price prior to resale plummet due to Volkswagen’s emission scandal. The buy back is limited to the 2.0L diesels only and will not include the 3.0L diesels used in cars like the Touraeg. The plan by Volkswagen will also include repairing any remaining vehicles that have been affected by the scandal.

As consumers, we should be presented with an option to sell the vehicle back to Volkswagen, or have them repaired to be compliant with federal regulations. On top, there will likely be a cash settlement for owners of impacted 2.0L diesel vehicles as well.



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