San Francisco, California - A federal district court judge in San Francisco today signed a $10 billion settlement order, starting the formal process for owners of certain Volkswagen and Audi 2.0 liter diesel cars to receive compensation for the vehicles they bought.
Under the $10 billion Federal Trade Commission order, in most cases the owners of VW and Audi diesel cars fitted with illegal emissions defeat devices will receive between $12,500 and $44,000 each, depending on the model, year, mileage, and trim of the car, as well as where the owner lives.
In a new blog post, Road Cleared for VW to Compensate Consumers, FTC Chairwoman Edith Ramirez said that the landmark settlement will enable 500,000 consumers across the country to sell back their tainted diesel-powered cars to Volkswagen. “The $10 billion order secured by the FTC will make consumers whole by remedying the losses they suffered due to VW’s deceptive “Clean Diesel” ad campaign,” she wrote.
The FTC today also issued a new consumer blog post, VW Buybacks and Lease Terminations to Begin, which provides additional background information on the Volkswagen settlement order, along with detailed instructions for affected owners regarding how and where to file a claim, and the claim-processing timetable. It also tells consumers how and where they can pick up their buyback check, specifying that they do not have to be used to buy a new Volkswagen.
Earlier this year, the FTC warned consumers about possible scams involving Volkswagen buybacks in a consumer blog post titled VW Owners, Get the Facts. At the same time, the Commission posted a business blog emphasizing that it would be unwise for anyone, including VW dealers, to make separate offers to the owners of affected vehicles. (The staff contact is Jonathan Cohen, Bureau of Consumer Protection, 202-326-2551)