Volkswagen Could Compensate Diesel Owners

After the Volkswagen scandal that many people are calling “Dieselgate,” The CEO of the German car company, Martin Winterkorn, was forced to resign. Before he left his post, he made a promise that Volkswagen would make steps to correct its egregious errors and restore trust in the company. The question of how the company plans to compensate the affected customers is on the minds of Volkswagen owners of diesel models.

Volkswagen has a reputation for environmentally responsible cars that are built with high-quality German engineering. Many owners purchase Volkswagen models with the sole purpose of bettering the environment. Unfortunately, the latest Environmental Protection Agency tests show that the company exceeds emissions regulations by 10 to 40 times. The deceit to customers does not only affect the value of their cars, but also affects the social conscious that they unwillingly contributed to harming the environment. Consumer Program Director at U.S. PIRG Ed Mierzwinski believes that consumers deserve more compensation than just the value of their vehicle.

An estimation by Kelly Blue Book stated that Volkswagen would need $7.3 billion to buy back the 482,000 U.S. vehicles affected by the false emissions testing software. This exact estimation is the same amount of money that Volkswagen stated is set aside for fixing the software The company has yet to release a solidified plan for reimbursing affected customers.

Volkswagen was the first automaker to release diesel vehicles after emissions standards were raised in 2009. Now, with over 23 percent of Volkswagens in the U.S. having diesel transmission systems, the cost of repairing or compensating owners for their faulty vehicles will be enormous. Leading experts on auto defects and how vehicle manufacturers handle crisis situations believe the most likely response from Volkswagen will be to write small checks and offer to repair software. If you are like many Volkswagen owners that demand more from the company that deceived you, contact a Volkswagen emissions attorney in your area.