Volkswagen Reaches Agreement to Buy Back or Fix 3.0 TDI Models

Volkswagen has finalized its agreement with U.S. environmental regulators to buy back or fix vehicles equipped with the 3.0-liter turbodiesel V-6, which has been found to emit more than the legal amount of pollution allowed using cheat devices. The deal could see the automaker buy back as many as 83,000 affected vehicles.

The agreement comes in the form of a proposed Consent Decree, and still needs to be signed off by Judge Charles R. Breyer. Of the roughly 83,000 Volkswagen, Audi, and Porsche vehicles in the U.S. affected, 63,000 are powered by generation 2 engines and will be recalled for modifications, if approved EPA and the California Air Resources Board (CARB). If a fix can’t be approved, VW will offer to buy back or terminate the leases of these model-year 2013-2016 vehicles. For the 20,000 older cars with the generation 1 TDI engine (model years 2009-2012), VW is skipping the recall and offering to buy them back or terminate their leases straightaway. If a fix for that engine is approved, then VW will give the option to modify the cars for owners and lessees who wish to keep them.

Volkswagen will fork over $225 million to the environmental remediation trust that was established under the settlement for its 2.0-liter TDI engines. The funds will be used toward mitigating the lifetime NOx emissions of the 3.0-liter diesels V-6 vehicles. In addition, VW will pay $25 million to CARB to support zero-emissions vehicles in California. That $250 million does not include the cost of buying back or fixing the 83,000 TDI V-6 cars. Whatever that amount ends up being, it will be in addition to the $14.7 billion VW is paying for the 2.0-liter diesel settlement.

The agreement will go into effect once approved by the court, and the soonest that could happen is spring 2017. Owners of affected models, which include 2009-2016 Volkswagen Touareg, 2013-2016 Porsche Cayenne, 2009-2015 Audi Q7, and 2014-2016 Audi A6, A7, A8, and Q5 diesel vehicles, can visit http://ift.tt/29kr4Ew for more details.

Source: Volkswagen

 

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