VW owners in US to get up to $10,000 in emissions deal

[Morgen]

[QUOTE]Volkswagen car drivers in the US affected by its emissions scandal are due to get up to $10,000 (£7,500) after the firm agreed a deal with regulators.
The German car giant will offer to repair or buy back the affected diesel vehicles and pay owners between $5,000 and $10,000 in compensation.
Last year, US regulators discovered that some VW cars were fitted with software that distorted emission tests.
The German giant subsequently said 11 million cars worldwide were affected.
The total deal will cost Volkswagen $14.7bn. It is expected to spend up to $10bn on buybacks and compensation, and will put a further $2.7bn into an environmental fund operated by the Environmental Protection Agency (EPA), as well as invest $2bn over the next decade into zero emission technology.
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[URL="http://www.bbc.co.uk/news/business-36651853"]Source[/URL]

[nintenman1]

that is, the cash settlement is between 5 and 10k USD. The buyback program is separate and provides between 12 and 44k in compensation.

[S31-Syntax]

Man do I wish I'd gotten a slightly more modern TDI.

[Brawkoli]

Wow, I'm so happy that I bought a new 2015 Golf TDI last year. I love the car and already got a $500 visa card, a $500 VW gift card, and 3 years of free roadside assistance, and now it looks like I'll get even more money and can sell them my car back and get the car I wanted to begin with. GG VW.

[Sableye]

Genuinely curious how this hasn't destroyed their stock at this point

[Snowmew]

[QUOTE=Sableye;50611971]Genuinely curious how this hasn't destroyed their stock at this point[/QUOTE]

It dropped by half already. That's pretty "destroyed" in my mind.

Unless you mean from this announcement. They did the press release after the markets closed so they could do some damage control after hours.