Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

VW offers car owners $1,000 in gift cards and vouchers

by Associated Press

DETROIT Nov 11, 2015 - 12:00 am GMT+3
No Image
by Associated Press Nov 11, 2015 12:00 am
Volkswagen is offering $1,000 in gift cards and vouchers as a goodwill gesture to owners of small diesel-powered cars involved in an emissions cheating scandal. The offer announced Monday goes to owners of 482,000 cars in the U.S., many who are angry at the company because they paid extra for the cars to be environmentally sensitive without losing peppy acceleration.

VW is working on a fix for the cars, which are equipped with software that turns on pollution controls during government tests and turns them off while on the road. The U.S. Environmental Protection Agency says the cars, with 2-liter four-cylinder diesel engines, emit 10 to 40 times the allowable amount of harmful nitrogen oxide while being driven. The offer also includes free roadside assistance for the diesel vehicles for three years.

"We are working tirelessly to develop an approved remedy for affected vehicles," said Michael Horn, VW's U.S. CEO, said in a statement. "In the meantime we are providing this goodwill package as a first step towards regaining our customers' trust." VW said that its Audi luxury brand would launch the same program on Friday.

Meanwhile, Germany's Transport Ministry said Monday that of the 2. 4 million vehicles being recalled for fixes in Germany, regulators "currently expect that approximately 540,000 will also need hardware changes" as well as software changes. It says Volkswagen will inform owners of the details. The company is recalling 8.5 million 2009-2015 model year cars with the software across Europe, starting next year. It says about 11 million cars worldwide have the software.

Also Monday, Fitch, the credit rating agency, downgraded Volkswagen's debt by two notches to reflect the potential financial costs of the scandal as well as the management problems that led to the crisis in the first place.

To get the gift cards and vouchers in the U.S., owners will not be required to sign anything giving up their right to sue Volkswagen or forcing them into arbitration, spokeswoman Jeannine Ginivan. "There are no strings attached," she said.

The fix of the 2-liter diesels in the U.S. could wind up hurting performance or perhaps fuel mileage, the two main reasons why people buy the diesels. More than 200 class-action lawsuits have been filed in the U.S. against VW alleging that the scandal caused the diesel cars to drop in value. Early in October, Kelley Blue Book said the average resale value of Volkswagens with two-liter diesel engines fell 13 percent since mid-September, when VW admitted it cheated on the tests. Used car values often drop in the fall, since demand for them is stronger in the summer. But VW's diesel decline is unusually large. The price of gas-powered Volkswagens dropped 2 percent in the same period. Volkswagen already is offering $2,000 to current VW owners to trade in their cars for new vehicles, and the gift cards and vouchers would add $1,000 to that.
  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    A look into devastated town of Volnovakha, Ukraine
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021