VW offers US dealers a $1.21 billion over diesel scandal

For Volkswagen dealers in the US, the sound of a diesel car is about to sound like "ka-ching." VW AG confirmed yesterday that it will compensate its US dealers a total of $1.21 billion (an average of $1.8 million for each of the 652 dealers in the country). The payment is meant to try and make things right ever since the company's oil-burners were taken off dealer lots in late 2015 when the massive diesel scandal broke – and because they might never come back. A federal judge still need to approve this

Until this announcement, VW dealers were mostly left out of the company's efforts to fix the problems caused by the diesel cheat device it installed in millions of vehicles around the world. A preliminary agreement was reached in August to compensate the dealers in some fashion, but no details were disclosed at that time. Around half a million affected diesels were sold in the US and those customers have been offered buy-backs or a "fix," for their vehicles, once one is figured out and approved. Also on Friday, the Department of Justice said that this technical solution to reduce "the emissions of these vehicles" was still in process. About half of those owners have agreed to settle. For much more on the customer settlement, read this.

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