Volkswagen 2.0L TDI owners your limbo is over.
Tuesday, a federal judge approved a $14.7-billion dollar settlement in the automaker’s emissions cheating scandal. It’s one of the largest consumer settlements in U.S. history.
More importantly, for 475,000 VW and Audi TDI owners, it means buybacks start soon, for those who decide to go that route. Payouts differ depending on the book value of the car. Drivers can also decide whether to keep their diesel and have modifications made, if an EPA-approved repair becomes available.
VW says it will start implementing the settlement programs immediately.
The settlement agreements were previously announced, so this was just the signing the dotted line, so to speak. (Volkswagen still has to figure out a resolution for owners with affected 3.0L TDI V6 diesel engines.)
“Final approval of the 2.0L TDI settlement is an important milestone in our journey to making things right in the United States, and we appreciate the efforts of all parties involved in this process. Volkswagen is committed to ensuring that the program is now carried out as seamlessly as possible for our affected customers and has devoted significant resources and personnel to making their experience a positive one,” said Hinrich J. Woebcken, President and CEO of Volkswagen Group of America, Inc.
Customers with eligible vehicles may submit claims at www.VWCourtSettlement.com. Once a customer’s claim is approved, a customer can schedule appointments with dedicated settlement specialists who have been assigned to dealership locations.
Volkswagen has also agreed to pay $2.7 billion over three years into an environmental trust, managed by a trustee appointed by the Court, to remediate excess nitrogen oxide (NOx) emissions from 2.0L TDI vehicles in the United States and invest $2.0 billion over 10 years in zero emissions vehicle (ZEV) infrastructure, access and awareness initiatives.