VW Agrees to Multi-Billion Dollar 2.0-Liter TDI Settlement in Canada

Volkswagen and lawyers representing Canadian TDI owners have agreed to a US settlement that could cost the automaker up to CAD $2.1 billion (USD $1.6 billion) plus a CAD $15 million civil administrative monetary penalty. The agreement must now go to court for final approval.

Under the terms of the agreement, VW will offer to buy back many of the 105,000 eligible 2.0-liter TDIs at Canadian Black Book wholesale value as of September 18, 2015 (with adjustments for factory options and mileage).

Alternatively, eligible owners can choose to trade in their vehicles or to have them repaired free of charge, if a fix becomes available.

On top of that, owners are also entitled to a cash payment, the value of which has not been revealed at this time.

“Our clients were clearly looking for finality and choices, and we hope that through this agreement we have provided both,” said Harvey Strosberg a co-lead counsel in Ontario for the class action suit.

The total value of the agreement amounts to about CAD $2.1 billion, which, before inflation, is similar to the US agreement. The US settlement amounts to roughly USD $21,000 (CAD $28,000) per car, whereas the Canadian deal amounts to CAD $20,000 per car.

Canadian TDI owners and lessees can check their eligibility at vwcanadasttlement.ca and court-approved notices summarizing the settlement will be sent out starting on January 4, 2017. The opt-out and object deadlines are March 4, 2017.

“Volkswagen’s primary goal has always been to ensure our Canadian customers are treated fairly, and we believe that this proposed resolution achieves this aim,” said Maria Stenstroem, Volkswagen Group Canada President and CEO. “We are working hard to earn back the trust of our customers, dealers and regulators, and today is an important step in that effort.

The agreement will now go to court twice—once in Ontario and once in Quebec—to gain final approval. The dates of those court hearings have not yet been set.

[source: newswire.ca]

The post VW Agrees to Multi-Billion Dollar 2.0-Liter TDI Settlement in Canada appeared first on VWVortex.

from VWVortex http://ift.tt/2hjCDyT
via IFTTT

Comments

You can't scam VW by buying a dirty diesel now and still get full payout

Filed under: Government/Legal , Green , Volkswagen , Diesel VW's lawyers have naturally put in a clause that will prevent anyone from buying a known dirty TDI from getting the full buyout amount from the OEM. Continue reading You can't scam VW by buying a dirty diesel now and still get full payout You can't scam VW by buying a dirty diesel now and still get full payout originally appeared on Autoblog on Thu, 30 Jun 2016 14:44:00 EDT. Please see our terms for use of feeds . Permalink | Email this | Comments from Autoblog Volkswagen http://ift.tt/297SxtR

2018 Lamborghini Aventador S Roadster Review

“Supercars just don’t excite me anymore.” These words, spoken to me over a month ago by another journalist, friend, and (so-called) enthusiast were echoing in my head for far too long, but they’ve finally been drowned out. Drowned out by the wail of a naturally aspirated 6.5-liter V12 engine mounted in the middle of the new Lamborghini Aventador S Roadster. My friend’s point is that back in the good old days, there was a crop of supercars that captured the imagination with amazing style, sounds, performance, and more. Today, it seems like everything is capable of supercar performance, with large luxury sedans outdoing some of the best and most dedicated teams of car nuts, while former pillars of automotive excellence are suddenly pumping out family-friendly SUVs. Beyond that, another league of supercars, dubbed hypercars have cropped up with hybrid gas-electric powertrains that make magical things happen quickly, but at the cost of the acoustic drama, visual flair, and engag...

PZM 73rd Rally Poland Kicks Off

The WRC is in Poland and after only one stage there are three Volkswagens in the top five. Today’s special stage at the Mikolajki Arena is the first stage, but the rally doesn’t begin in earnest until Friday. Today’s super special stage was less than two minutes long, and less than a second separates the top five drivers. Hyundai Motorsport’s Thierry Neuville tops the charts today, followed closely by Volkswagen’s Andreas Mikkelsen. Sebastien Ogier and Jari-Matti Latvala are in fourth and fifth, respectively. Expect Ogier to climb the rankings, though. Not only did he win the rally last year, he has won every year since 2013. And with rain expected on Friday, Ogier’s chances are even better. “If it’s a bit wet then I hope I can make some good times,” said Ogier earlier today. “The best would be some good rain during the night so it’s a damp surface and then not too bad weather during the day so specators can enjoy the show without being too wet.” If it is dry, though, speed is on ...

Vorderman Volkswagen

Search This Blog