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VW Settlement

Posted on: 11/07/2016

A federal judge approved the largest auto-scandal settlement in U.S. history. The total cost to VW is about $15 billion.

The decision gives VW owners and leaseholders the choice between selling their cars back (to VW) or having them repaired. The buy-back is not the purchase price but the full trade-in price at the time the problem was first reported on September 18, 2015.

According to the manufacturer about 475,000 Volkswagens and Audis with 2-liter, four-cylinder diesel engines were sold to buyers that did not know the engines were programmed to avoid true results of emissions tests.

However, Automotive News wrote “Republican lawmakers today pressed the EPA for answers about aspects of Volkswagen’s deal with the Department of Justice and the agency to settle aspects of the company’s diesel emissions violations, saying the settlement could give VW an advantage as it readies a major electric-vehicle push.”