Indications VW may have to buy back some of its diesel vehicles
Posted on Tuesday, February 2nd, 2016
In a statement made before the United States District Court in San Francisco, Robert Giuffra, a lawyer for Volkswagen, said that the German automaker may decide to buy back some of their diesel vehicles if the company is not able to make them comply with EPA air quality standards quickly enough. Giuffra is one of the attorneys defending VW against the class-action suits that have been filed against the carmaker by owners of affected diesel vehicles.
While the company has indicated in the past that it may eventually need to buy back some of its diesel vehicles in the United States, Giuffa’s statements are the clearest indication yet that the company simply does not have the technology necessary to fix the problem. That being said, VW has not made a definitive statement about what they intend to do for owners of affected vehicles.
At the time of the hearing in San Francisco, the number of vehicles that were known to be affected by the scandal was set at around 575,000. Since the Environmental Protection Agency brought the emissions cheating scandal to light in September and through the end of December in 2015, the value of VW diesel vehicles has dropped by a staggering 16 percent, according to data that is collected by Kelley Blue Book. Even steeper declines have been reported by some owners.