Company promises dealers will receive "fair restitution."
The fallout from Volkswagen's Dieselgate scandal continues to grow as the company has vowed to compensate dealers affected by the emissions cheating saga.
According to dealers who spoke with The Wall Street Journal, the company recently hosted a meeting in Newark, New Jersey which was attended by representatives of more than 150 dealerships. During the course of the meeting, a senior executive promised dealers would receive compensation for the Dieselgate scandal.
The executive declined to give specific numbers as negotiations are still underway but promised dealers would receive “fair restitution.” The company hopes to finalize a settlement within the next 30 days but some dealers have already threatened to sue if Volkswagen doesn't pay out generously.
Besides discussing compensation, Volkswagen officials reportedly told dealers that cars affected by the Dieselgate scandal should be able to be fixed or sold back to the company starting in October. According to documents provided to dealers, customers looking to have their vehicle bought back by the company will contact a third-party “settlement specialist." If the customer agrees to the settlement price and sells their vehicle back to Volkswagen, the company could fix the model to make it compliant with emissions regulations. If this occurs, the dealership could buy the vehicle to resell or offer to other dealers.
Source: The Wall Street Journal