Mexican Media Brands
VW “Way Ahead” on U.S. Diesel Buyback Program
Volkswagen AG say it has already reacquired half the 475,000 diesel-powered cars it sold in the U.S. that had been rigged to cheat emission laws, The Wall Street Journal reports.
#regulations
Share
Volkswagen AG say it has already reacquired half the 475,000 diesel-powered cars it sold in the U.S. that had been rigged to cheat emission laws, The Wall Street Journal reports.
The company agreed to the $10 billion buyback program last summer and will face new fines if it fails to retrieve at least 85% of the affected vehicles in two years. VW is offering owners cash payments between $5,100 and $10,000 per affected vehicle. The cars, all powered by a 2.0-liter 4-cylinder diesel, will be scrapped or repaired.
VW sales in the U.S. have grown 10% this year to 76,300 units, according to Autodata Corp. The carmaker estimates that 20%-30% of participants in the diesel buyback scheme end up buying another VW model.
RELATED CONTENT
-
CARB Predicts 10x Hike in Fuel Cell Vehicles by 2024
California expects the number of fuel cell-powered vehicles registered in the state will surge to 23,600 units in 2021 from 4,800 through May of this year and reach 47,200 by 2024.
-
Tesla Maxes Out on Tax Credit as U.S. Sales Reach 200,000
Tesla Inc. says it will deliver its 200,000th electric vehicle in the U.S. this month, thereby triggering a phase-out of the $7,500 federal tax credit its vehicles have enjoyed.
-
Bill on Self-Driving Cars Stalls in Senate
Congressional efforts to make it easier to develop self-driving cars in the U.S. have stalled in the Senate despite strong bipartisan support.
