Skip to main content

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
Labels:

Comments

Post a Comment

Popular posts from this blog

Review: Saying Goodbye to the CC V6

For all its size and its global reach, Volkswagen is still, in many ways, a deeply human company. There was, for instance, the Bugatti Veyron an ego project if ever there was one. Then the purchase of Ducati, a move most called folly. And then there was the Phaeton, the Volkswagen that most folks can’t afford. Not only were these moves all strange, I’m sure that they made VW’s accountants furious. None of them made good business sense, but they were all deeply interesting and they all are evidence of the heart that beats at the center of VW. Among these follies is the CC, a car that everyone agrees is rakishly handsome, but that no one really wanted to buy. The car couldn’t last, but the world is brighter for its having been in it. With the approach debut of the Arteon, it seems like a good time to look back on its sadly departing predecessor. The version I drove, because I live in Canada, is a V6 Wolfsburg Edition, which apparently isn’t available in the States. Nor is the V6, not as...
Post a Comment
Read more

Mitsubishi admits it lied about MPG ratings for all vehicles in Japan

Filed under: Government/Legal , Green , Mitsubishi , Fuel Efficiency , Japan Mitsubishi says its shady fuel-economy test practices may have been used on all vehicles it sells and has sold in Japan. Continue reading Mitsubishi admits it lied about MPG ratings for all vehicles in Japan Mitsubishi admits it lied about MPG ratings for all vehicles in Japan originally appeared on Autoblog on Wed, 11 May 2016 12:36:00 EDT. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments from Autoblog Volkswagen http://ift.tt/21X3bHv
Post a Comment
Read more

More 3.0-Liter TDI Settlement Details Expected by January 31

Volkswagen and the TDI Plaintiff’s Steering Committee were in court today for another status conference following the agreement in principal reached earlier this week. Little new information was given at the conference held before Judge Charles Breyer today, but the court ordered the parties to develop a formal settlement agreement, class action notices, and a class notice plan by January 31, 2017. For now, though, owners still don’t know how much to expect in compensation. Elizabeth Cabraser, lead Counsel for the Plaintiff’s Steering Committee reaffirmed in a statement today that the compensation would be “substantial.” The potential cost to Volkswagen is widely reported to exceed $1 billion, though, with an additional $225 million going into an environmental trust to help offset excess emissions. Buy back offers are still only expected for the oldest 20,000 of the roughly 80,000 VW Group vehicles sold in America with the 3.0-liter TDI engine. Those vehicles are mostly SUVs, like ...
Post a Comment
Read more