The Wall Street Journal is reporting that, during a meeting with dealers, Volkswagen outlined some of the details of its TDI buyback plan. Dealers coming out of the meeting spoke to the publication about some of what Volkswagen hopes will happen to the affected vehicles.
Owners will have the option of fixing their cars (pending a government approved fix) or selling their TDI back to VW. Those who decide to sell their vehicles would first get in touch with a third-party “settlement specialist,” reports WSJ. That specialist would then get in touch get in touch with dealers.
If a fix is approved, dealers will have the option to purchase buyback vehicles for resale. If the first dealer declines, then others will have the option to buy the vehicle for resale.
Although VW keep working on fixes for the diesel vehicles that were part of the emissions scandal, none of their proposed solutions have been accepted by the government. Any fix will have to provide similar power and performance as was advertised by the manufacturer, while also reducing emissions.
Finding a fix, though, could potentially save the manufacturer billions, if owners decide to keep their TDIs. Reselling the vehicles, too, would help limit the cost of the settlement they agreed to late last month.
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