Things are about to get very expensive for Volkswagen Group, as it's reported that the automaker will buy back or fix cars with 3.0-liter diesel engines in the US.
Volkswagen Group reportedly reached an agreement with federal regulators regarding its 3.0-liter diesel engines, Reuters reports, citing two sources familiar with the matter. Approximately 20,000 older vehicles will be bought back, with another 60,000 newer vehicles requiring a software fix, which takes about an hour at a dealership.
"The Court has scheduled a status conference for November 30, 2016 to discuss the matter further," said Mark Clothier, an Audi spokesman, via email. "Until that time the Court has ordered that these discussions remain confidential."
The 3.0-liter diesel engines, which live in a variety of Audi, Porsche and Volkswagen vehicles, contain undeclared systems that permit polluting in excess of legal limits. It's not believed to be an outright cheat, as with the 2.0-liter models and their defeat devices.
No matter how it gets done, it won't be cheap. Volkswagen is set to spend approximately $10 billion buying back or potentially fixing its 2.0-liter diesels, and those cars are on the cheaper end of the spectrum. The 3.0-liter TDI V6 hangs out in a variety of larger luxury cars and SUVs, so while only 80,000 may be affected, the higher price of each vehicle will make this second buyback scheme a costly one.