VW to Offer U.S. Dealers Price Guarantee on Used Diesels

Volkswagen AG is preparing to offer its U.S. dealer a guaranteed value for the company’s used cars that were equipped with 2.0-liter diesels rigged to cheat federal emission standards, Automotive News reports. It says dealers were briefed on the program yesterday.

VW will back the used-car price of the vehicles as they were shortly before the Environmental Protection Agency’s Sept. 18 disclosure of the doctored diesels, according to the newspaper. The EPA says about 482,000 such vehicles were sold in the U.S.

If dealers can’t sell the targeted cars in 60 days, the company will buy back the vehicles. The plan is intend to avoid a glut of unsellable trade-ins on dealer lots.

AN says the program will be rolled out in phases, starting with two-week period to conduct an inventory of used diesels currently sitting on dealer lots. VW also plans an unspecified “customer goodwill” effort for current owners of the affected cars.