Finally, some good news in terms of the Volkswagen diesel scandal. According to German newspaper Die Welt, Volkswagen has reached a deal with U.S. authorities over its cheating of EPA emission tests. Not much is known about the deal, but sources tell Die Welt that key part of the deal will see Volkswagen paying owners in the U.S. $5,000 in compensation.

 

This deal will be presented tomorrow to U.S. District Judge Charles Breyer at a hearing. We'll likely learn more about the agreement and what else it entails.

 

UPDATE: Reuters has learned from their sources that Volkswagen has agreed to buy back up to 500,000 2.0L diesel vehicles in the U.S. Volkswagen may also offer to repair the affected vehicles down the road if given the go-ahead by regulators.

 

Stay tuned.

 

Source: Die Welt, Reuters, (2)

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Very interesting, the buy back is what I think should have been done from day one. 

 

With that said, I think VW to show good will and to address their lies of creating and using cheap software especially on auto's that cannot be fixed without engineering change should just swap out equal 2016/2017 model for their faulty versions. This will build good will with the owners and help bring back customers to the vacant VW dealerships.

 

Cost money? You bet, allot, but long term this would really help to turn things around for VW. They need it as they are bleeding to death on the table.