VW to Pay $1.2 Billion in U.S. Dieselgate Settlement Over 3.0-Liter Engine Models
Porsche, Audi, and VW Touareg buyers are set to grab a piece of that sweet, sweet buyback pie.
Volkswagen's $15 billion settlement with aggrieved parties in the United States over the carmaker's dirty 2.0-liter turbodiesel four-cylinder engines may have been the peak of the Dieselgate fiasco, but it certainly wasn't the end of it. Among other factors, the settlement did nothing for the tens of thousands of Americans who owned vehicles powered by the VW Group's 3.0-liter diesel V6—a group of cars and trucks that included models made by Porsche and Audi, as well as Volkswagen.
Until now, at least. On Thursday, a federal judge approved a settlement between VW and the plaintiffs in a class-action lawsuit representing the owners of the roughly 88,500 affects cars and SUVs in the U.S. In the ruling, U.S. District Judge Charles Breyer, who also oversaw the 2.0-liter turbodiesel suit, signed off on the terms of settlement, which could be worth around $1.22 billion, according to Reuters.
Owners of the vehicles will be entitled to either buybacks, trade-ins, or repairs that bring the vehicles into accordance with rules established by the Environmental Protection Agency and the California Air Resource Board. (Older models built between 2009 and 2012 cannot be restored to original standards, according to a release issued by the plaintiffs, and as such will require the EPA and CARB to approve a new, supplementary form of emissions regulation; newer models are believed to be able to be upgraded to existing standards.)
In addition, all diesel owners will be eligible for additional cash payouts on top of their buyback, trade-in, or modifications. These payouts will range from $7,039 to $16,114 per vehicle, according to a release issued by the plaintiffs.
Cars powered by the 3.0-liter diesel six-cylinder sold in the United States include the Audi A6, A7, Q7, and A8, the Porsche Cayenne, and the Volkswagen Touareg.
The judge also signed off on a separate, related settlement between automotive supplier Bosch and the owners, in which the company will pay out $327.5 million to American 3.0-liter diesel drivers.
So far, Volkswagen has agreed to pay out up to $25 billion overall in the U.S. in order to put Dieselgate behind it once and for all.