Volkswagen will pay out $1.2 billion to affected owners of 3.0-liter V6 TDI models.
Slowly but surely, Volkswagen is trying to recover from the damage caused by the disastrous Dieselgate scandal. In the midst of facing lawsuits and prosecution, the manufacturer has been reaching settlements to compensate affected owners. The last settlement saw VW agree to pay out $15 billion to owners of 2.0-liter diesel models. Now, owners of 3.0-liter V6 TDI models are being compensated in another costly settlement.
VW has agreed to pay out $1.2 billion for a program inviting affected owners of 3.0-liter V6 TDI models to either have their vehicles fixed or bought back. Around 78,000 affected vehicles are eligible, including the VW Touareg, Audi A6, A7, A8, A8L, Q5 and Q7, and the Porsche Cayenne. If the fix is approved, owners could receive compensation of between $7,000 and $16,000, plus another $500 if the fix affects the car’s performance. If, however, you request a buyback, you will receive an extra $7,500 on top of the value of the car. These costs could seriously mount up for VW if US regulators don’t approve fixes for affected vehicles, however.
According to AutoNews, the manufacturer could end up paying $4.04 billion if this happens – and that’s without taking the individual owner’s compensation into account. VW also agreed to pay $225 million to offset the extra pollution emitted from the 3.0-liter models on top of the $2.7 billion it’s already paying out for pollution caused by 2.0-liter models. Will VW ever recover from Dieselgate? Well, despite all the controversy VW outsold Toyota last year - though it’s worth noting that this includes all brands under the VW Group such as Audi, Skoda, Seat, Porsche.