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[Fox] Volkswagen to pay $1000 per vehicle to owners

post #1 of 70
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Report says Volkswagen will make $1,000 "goodwill" offer to diesel car owners
Quote:
Volkswagen is set to offer owners of it diesel-powered cars a “goodwill” package worth $1,000, according to several sources, as it continues to develop a solution to fix the vehicles, which were discovered to include software that allows them to cheat on EPA emission tests.

One dealer, who asked to remain anonymous, revealed the plan to the Associated Press. It is expected to be officially announced sometime on Monday.

...

According to the dealer, owners would get a $500 Visa debit card to spend on anything they wish and a $500 voucher for oil changes, service or merchandise from dealers. The dealer didn't want to be identified because details of the program haven't been announced.

VW has admitted that four-cylinder diesels from the 2009 to 2015 model years have software that turns on pollution controls during government tests and shuts them off on the road. The company says about 11 million cars worldwide have the software.

...

Volkswagen already is offering $2,000 to current VW owners to trade in their cars for new vehicles, and the gift cards and vouchers would add $1,000 to that, the dealer said.


And so it begins. I wonder if this will help or hurt VW. Obviously their resale value has been damaged and this may help to avoid even more of a PR nightmare, but will this hurt them in the long run as it is largely an admission to a looming class action lawsuits?

11 million vehicles * $3000 each = $33 billion ... ouch. That doesn't even take into account the fines, legal costs, or the cost to fix it.
post #2 of 70
You said that right, ouch.
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post #3 of 70
Thats a lot of money... Although I think VAG will still come out just fine since it has its hands in so many cookie jars in a global market.
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post #4 of 70
I'm wondering if the fine print will read something along the lines of:

"By accepting this recompense you agree that you have been fully compensated for all losses, both now and in the future, related to this issue, and waive the right to seek further compensation for this or future losses."

Or some other legally worded way out for VW.
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post #5 of 70
I mean I'd take the money obviously but if I were an owner why would I care if VW cheated the stupid govt emissions testing? Unless it gets way worse gas mileage than advertised I wouldn't care at all...
post #6 of 70
Quote:
Originally Posted by Majin SSJ Eric View Post

I mean I'd take the money obviously but if I were an owner why would I care if VW cheated the stupid govt emissions testing? Unless it gets way worse gas mileage than advertised I wouldn't care at all...

The fix to the problem may result in a loss of both gas mileage and power.
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post #7 of 70
Quote:
Originally Posted by 47 Knucklehead View Post

Report says Volkswagen will make $1,000 "goodwill" offer to diesel car owners
And so it begins. I wonder if this will help or hurt VW. Obviously their resale value has been damaged and this may help to avoid even more of a PR nightmare, but will this hurt them in the long run as it is largely an admission to a looming class action lawsuits?

11 million vehicles * $3000 each = $33 billion ... ouch. That doesn't even take into account the fines, legal costs, or the cost to fix it.
forget it, they will like every large corp make a settlement with EPA or whatever gov agency and it will include immunity from civil suits. yeah thats how corps get their sweatheart deals. especially vw since its owned by germany and quatar

also its no big deal. vw has 21b in cash and 18b a yearly profit. and the way german economy works, they can get a whatever loan from deutsche bank, if they really needed it
post #8 of 70
I have a friend with 2 of them and he says the power loss and gas mileage loss is very noticeable.
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post #9 of 70
I would not accept the money, I would rather keep the gas mileage and the power. Better gas mileage will make up way more than $1000 in savings over ownership time.
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post #10 of 70
really ?
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