VW Has Revealed A $10 Billlion Buyback Programme For Dieselgate TDI Buyers

As VW continues to count the cost of the dieselgate scandal, the company has revealed exactly how it’ll placate affected customers in the United States. It’s to create a $10.033 billion funding pool, covering 460,000 VWs and 15,000 Audis for buybacks, lease terminations and - where possible - emissions modifications. Owners won’t have to worry about any falls in residuals either, as the buybacks will use values that applied in September 2015 - just before the emissions scandal came to light.

On top of the $10.033 billion, VW has also agreed to hand over a $2.7 billion “environmental remediation fund”, plus a further $2.0 billion to invest in the promotion of zero emissions vehicles in the United States.

Tot that all up, and you’re looking at just under $15 billion. I’d give you the figure of how much that is in pounds sterling, but since it’ll probably dramatically change within a couple of minutes of writing this, I won’t bother.

As a reminder, the cars affected - all fitted with the 2.0-litre TDI engine - are the VW Beetle, Golf, Jetta and Passat, plus the Audi A3.