If true, and that's all they offer, I'll tell them where they can stick that $5k when I file suit.
Volkswagen's Clean Air Act violations on 2009+ TDIs spark huge recall, investigations
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TCBinaflash
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Yeah I don't know. $5k covers my lost resale value but that's it. Prob spend it 2x over on parts.
autdi
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VW is up 5% today, market likes it when things resolve, the 8% bump in 2 days would lend credibility to a settlement in the near term.I'll take a grain of salt the size of Everest, please.
Larger article:
http://www.reuters.com/article/us-volkswagen-emissions-court-idUSKCN0XH0ZV
http://www.reuters.com/article/us-volkswagen-emissions-court-idUSKCN0XH0ZV
So $5k + a "fix". But they won't say what the fix is... no thanks.
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romad
Top Post Dawg
Or there is a RUMOR of a resolution.
qwaszxxx
Active member
The article reporting the news as translated by Google:
In the exhaust affair have the Volkswagen Corporation and the US Department of Justice and the comprehensive EPA and CARB and the competent authorities of the Federal States apparently agreed on a settlement.
As the "world" learned from negotiating parties, the agreement paper to be the relevant US Judge Charles Breyer presented on Thursday afternoon German time in San Francisco at the court. This avoids that Breyer "Diesel Gate" as threatened in the case opened in the summer of a process. The ultimatum of the judge for an agreement would have expired on Thursday afternoon at 17 o'clock.
Reportedly from negotiating circles, has been fought to the end to the comparison. Unlike initially expected, but presented no detailed plan for the conversion of up to 600,000 cars with the agreement in principle, which are affected by the exhaust manipulation of the VW Group in the United States.
And the penalties and remedial measures are not covered by the agreement in detail. "It is, rather, a kind of framework paper, in which the main line is set for the coming months and will continue working on the" says a process participants.
Details are therefore not yet been notified by the court hearing in San Francisco. "Everyone involved in this case have agreed not to disclose," it said. As the "world" but found out it is clear that each US holder of a car in the VW Group, which is equipped with an offending software, $ 5,000 should receive compensation. Separately, must bear the costs of converting the respective cars Volkswagen.
Billion cost for VW
The Settlement provides broadly that the VW group most of the equipped with the Cheat software cars so umrüstet that they meet the legal requirements. A smaller part will have to buy back the Wolfsburg because retrofitting is not too costly or technically possible. For this, the car company has to pay a heavy fine and undertake to finance environmental protection measures, in particular for air pollution control.
Course Details on
All this will cost Volkswagen billion. Nevertheless, Wolfsburg should be happy that a framework for loads of diesel gate in the US has been plugged. The Group must bear the cost can be roughly estimated, to make appropriate provisions for, 2015. Otherwise he could not on Friday as planned to present the financial results for the past year - and even that is already later than originally planned. Less than a week later, stands at the annual accounts press conference.
Christopher Rother, the German partner of the US star attorney Michael Hausfeld, however, made clear that a comparison in the US only one piece of the puzzle in the work-up of the exhaust affair could be. "We have here in Europe millions of affected cars. And we will make the arrangements for US customers to scale for compensation from German VW-owners." The firm Hausfeld is one of the representatives of the plaintiffs in the collection process against Volkswagen in the US. Hausfeld had announced to enforce the demands of German customers. "What concerned entitled in the United States, and the customer needs in this country is entitled," Rother said. After the US thus rolled to an avalanche of costs at VW in Germany."
In the exhaust affair have the Volkswagen Corporation and the US Department of Justice and the comprehensive EPA and CARB and the competent authorities of the Federal States apparently agreed on a settlement.
As the "world" learned from negotiating parties, the agreement paper to be the relevant US Judge Charles Breyer presented on Thursday afternoon German time in San Francisco at the court. This avoids that Breyer "Diesel Gate" as threatened in the case opened in the summer of a process. The ultimatum of the judge for an agreement would have expired on Thursday afternoon at 17 o'clock.
Reportedly from negotiating circles, has been fought to the end to the comparison. Unlike initially expected, but presented no detailed plan for the conversion of up to 600,000 cars with the agreement in principle, which are affected by the exhaust manipulation of the VW Group in the United States.
And the penalties and remedial measures are not covered by the agreement in detail. "It is, rather, a kind of framework paper, in which the main line is set for the coming months and will continue working on the" says a process participants.
Details are therefore not yet been notified by the court hearing in San Francisco. "Everyone involved in this case have agreed not to disclose," it said. As the "world" but found out it is clear that each US holder of a car in the VW Group, which is equipped with an offending software, $ 5,000 should receive compensation. Separately, must bear the costs of converting the respective cars Volkswagen.
Billion cost for VW
The Settlement provides broadly that the VW group most of the equipped with the Cheat software cars so umrüstet that they meet the legal requirements. A smaller part will have to buy back the Wolfsburg because retrofitting is not too costly or technically possible. For this, the car company has to pay a heavy fine and undertake to finance environmental protection measures, in particular for air pollution control.
Course Details on
All this will cost Volkswagen billion. Nevertheless, Wolfsburg should be happy that a framework for loads of diesel gate in the US has been plugged. The Group must bear the cost can be roughly estimated, to make appropriate provisions for, 2015. Otherwise he could not on Friday as planned to present the financial results for the past year - and even that is already later than originally planned. Less than a week later, stands at the annual accounts press conference.
Christopher Rother, the German partner of the US star attorney Michael Hausfeld, however, made clear that a comparison in the US only one piece of the puzzle in the work-up of the exhaust affair could be. "We have here in Europe millions of affected cars. And we will make the arrangements for US customers to scale for compensation from German VW-owners." The firm Hausfeld is one of the representatives of the plaintiffs in the collection process against Volkswagen in the US. Hausfeld had announced to enforce the demands of German customers. "What concerned entitled in the United States, and the customer needs in this country is entitled," Rother said. After the US thus rolled to an avalanche of costs at VW in Germany."
tebling
Member
Google translation of the actual German article from Die Welt.
newbeetleman
Veteran Member
100% is a scam and does nothing but give the government more control, never mind the damage it does to the economy.
JohnNS
Veteran Member
I can see the fine being $5000 per car.. but paying the customer for the EPA/CARB suits makes little sense - that would be the CAS if anything.
The entire market is up, so that's proof of nothing.
The article didn't address an actual fix. $5,000 sounds like a nice number, until one looks beyond it to what the actual fix is. For 5 grand, would any of you let them hack up your Pre-SCR TDI?
740GLE
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really?!?! $5K for filling up DEF at what should have been the normal rate, wow this thread is really getting messed up with people looking for hand outs.
Also when does news from VW come from Berlin? maybe that's just a CNBC thing.
I agree to some degree. But if their concern is that "5,000 isn't enough to hand over my car to you to hack it up and retrofit some kind of system", I agree with them as well.
YikeGrymon
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uh oh
Suddenly it occurs to me that maybe the $5K -- assuming this is for real -- is incentive to get us to submit to The Hack Job (i.e., retrofit SCR systems). Because VW is smart enough to understand that very few of us would go for that on its own.
Think about it. Settling with Murkan owners of these cars, and/or reducing our general ire, does nothing to settle with CARB/EPA.
aaack
Suddenly it occurs to me that maybe the $5K -- assuming this is for real -- is incentive to get us to submit to The Hack Job (i.e., retrofit SCR systems). Because VW is smart enough to understand that very few of us would go for that on its own.
Think about it. Settling with Murkan owners of these cars, and/or reducing our general ire, does nothing to settle with CARB/EPA.
aaack
Jimmy Coconuts
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Any settlement in the CAS announced tomorrow means nothing. The FTC consumer fraud case is the real hammer. There is a motion on the agenda tomorrow to combine the FTC case with the rest of the MDL under Judge Breyer, so I'm anxious to hear what he says about that.
qwaszxxx
Active member
Buybacks not off the table?
Quite the flood of news this afternoon. Buybacks don't appear to be off the table:
http://mobile.reuters.com/article/idUSL2N17N1JT
Quite the flood of news this afternoon. Buybacks don't appear to be off the table:
http://mobile.reuters.com/article/idUSL2N17N1JT
autdi
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Zero chance of 5k cash getting the car hacked up. Only way the car gets touched is with a covers everything forever warranty from fuel in to exhaust out. I'll take care of the bodywork, and things outside the motor, but mess with that, they own it, and keep it working, not me on my dime.
Last recall I had done they replaced the brake switch. Less than a year later dead brake booster. That was a $200 fix including parts, they are asking to mess with something far more expensive this time.
The 5 grand figure sounds about right for lost value. It's actually the exact number i told my friend and fellow tdi owner. All along, we were going to be entitled to actual loses and that's about how much value my car lost.
I always thought the talk about buy backs and full msrp was nothing but wishful thinking. the legal system allows for actual damages, which in this case is the actual drop in value the customer realized. I'm not saying that it's right or just, that's just how the system works.
they may have to settle more with other authorities and all that, but as for their relationship with their customers, something close to this will be all they could be on the hook for. i don't consider it "generous" as ken suckberg told us, but legal in our system. If it does happen, I will still be bitter about the whole thing, but i will leave vw forever, and most all german companies as well.
we still dont know for sure but this is what I expected all along. We will see
All just my opinion
I always thought the talk about buy backs and full msrp was nothing but wishful thinking. the legal system allows for actual damages, which in this case is the actual drop in value the customer realized. I'm not saying that it's right or just, that's just how the system works.
they may have to settle more with other authorities and all that, but as for their relationship with their customers, something close to this will be all they could be on the hook for. i don't consider it "generous" as ken suckberg told us, but legal in our system. If it does happen, I will still be bitter about the whole thing, but i will leave vw forever, and most all german companies as well.
we still dont know for sure but this is what I expected all along. We will see
All just my opinion
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I agree, but if I had a passat that only required increased adblue (assuming that would work) I would take the 5k and be happy... but 5k for them to retrofit adblue into my car (gen 1), my answer is hell no!
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And that was my point. Most of the people on this forum would not accept a retrofit of this magnitude, even with a $5,000 cash caveat. John Q. Public, who happens to be a TDI owner, on the other hand....
kitarkus
Veteran Member
Interesting. Certainly there is no reason to get upset or excited about any of this purported 'news'. That said....it is all certainly interesting. Tomorrow is unlikely to be a dud news day.
740GLE
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Not that I don't believe you, but what was the last big hammer the FTC slammed down?
I know people think the big bad gov can do things but what is the history of big windfalls of an FTC suit?
I seriously don't know, i'm trying to understand why people thing FTC is the end all of this.
YikeGrymon
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My latest annoyance with this whole thing: While scanning things on line it's become very easy to mix up "Dieselgate" and "Delegate" and get distracted by one while thinking about the other (either way)
That's why I said "their's" not "mine" or "our".
Though, the fix on my car isn't as easy as "increased adblue consumption". It will require a larger SCR to react with the extra adblue. If you've ever been under or over a Passat, there isn't exactly a ton of room there, and I doubt they're going to mess around with the firewall to make more room.
whizznbyu
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How about AUDI's? You know, the brother from the high class mother.
2015vwgolfdiesel
Top Post Dawg
pk
.... every car is different...
... you know I watch my KBB & NADA often...
... dropped a bunch at first. ~ $3,000 ??
... has leveled off and recouped (about) $700 - $800 this last month
... normal mileage for my car is ~ 20,500 ... and I rate it as CLEAN condition
... oh well ... life goes on -- and who knows what will happen tomorrow
----------------
LNXGUY
Top Post Dawg
Who's going to be the first to complain that $5000 isn't enough?
Slothbar
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http://autoweek.com/article/car-new...er&utm_content=body&utm_campaign=awdailydrive
"Cheating code words complicate VW diesel investigation"
I haven't seen this one posted yet.
"Cheating code words complicate VW diesel investigation"
I haven't seen this one posted yet.
MrSprdSheet
Veteran Member
"Die Welt said the agreement did not include a detailed plan to fix the affected cars, nor were details fixed on fines and other compensation measures, with one source saying the deal would be fleshed out in the coming months."
Sounds like they're merely using the fraud compensation (5k) figure as a constant, and letting the EPA fine, fix and buyback details remain variables. I can understand the logic of going about things this way, and how VW would want appease customers who are on the cusp of defecting.
Sounds like they're merely using the fraud compensation (5k) figure as a constant, and letting the EPA fine, fix and buyback details remain variables. I can understand the logic of going about things this way, and how VW would want appease customers who are on the cusp of defecting.
TDIintheLOU
Veteran Member
Reuters is also reporting VW will offer buybacks to 500K US car owners as well as the 5K$. My guess it will be up to the owners choice. Buyback or 5K and a fix down the road. I doubt you will get both.
Cant wait on the microwave for popcorn I'm going straight to pretzels and beer. Cheers.
Cant wait on the microwave for popcorn I'm going straight to pretzels and beer. Cheers.
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