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Volkswagen Dealers get $1.85 Million in Settlement

Volkswagen AG is making nice with its once-ornery U.S. dealer network to the tune of $1.85 million per dealer.

The automaker announced details of its $1.21 billion dealer settlement late yesterday, Reuters reports, with cash payouts to its 652 dealers spread out over the next 18 months.

A federal judge could sign off on the settlement on Oct. 18, after the U.S. Justice Department, Federal Trade Commission and lawyers representing U.S. owners gave their approval yesterday.

Under the dealer agreement, some of the automaker’s incentive payments will continue, and the company will buy back any remaining unsold diesel vehicles. Capital improvements to dealerships requested by the automaker are suspended. Also included in the agreement is the stipulation that Volkswagen can not sell any diesel vehicles in 2016 or 2017. (The automaker isn’t sure if it even wants to market a U.S. diesel again.)

While the agreement moves Volkswagen closer to its goal of putting the diesel nightmare behind it, its 3.0-liter diesel models remain in limbo. About 85,000 Volkswagen, Audi and Porsche 3.0-liter TDI models await a settlement in the U.S., with the automaker hoping for a technical fix. If it doesn’t find one by the end of October, its only option is another expensive buyback program.

A version of this article originally appeared on TheTruthAboutCars

The post Volkswagen Dealers get $1.85 Million in Settlement appeared first on VWVortex.



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