WhipE350

I've felt from the beginning of the settlement that they would delay our fix as long as possible. There are many reasons to delay.

Curious does anyone remember, if they tell us Nov 1st, "OK we have an approved fix", does that mean they don't have to pay the $500 a month. I thought that was the case. Then if it is a many hour fix just think of the wait period to get it done.

It just seems to me that normal attrition of Cayennes on the road would be in their favor.

I guess we'll know soon enough when magically a fix appears or well if it doesn't. I'll be the first to admit I'm wrong.

skiahh

I think the only way out (if you didn't opt out before the deadline) is if the fix makes your car worse. Then you can either ask the class attorneys to go for more $$ or you could pay back anything you've already received and opt out of the whole thing to pursue them yourself.

But short of that, no... that's the purpose of a class action.

Spyerx

Translation: may see a buy back.... this is hard



VW Takes New $2.9 Billion Hit From Diesel Scandal--Update

By Max Bernhard Published September 29, 2017 Features Dow Jones Newswires
Volkswagen AG warned Friday its third-quarter operating result would take a hit of around EUR2.5 billion ($2.94 billion), as the company continues to grapple with the fallout of the diesel emissions scandal that erupted two years ago.
The new costs stem from an increase in provisions for buyback and retrofitting programs of its 2.01 TDI vehicles in North America. Settlements surrounding that proved to be "far more technically complex and time consuming" than expected, Volkswagen said.

The car maker continues to reel from the scandal that came to light in September 2015, when it admitted some 11 million of its diesel vehicles world-wide were equipped with software that allowed them to sidestep emissions testing.

Volkswagen pleaded guilty to conspiracy to defraud the U.S. government in late 2016 and agreed to pay nearly $25 billion in fines, penalties and compensation, after it settled a number of civil lawsuits. Two Volkswagen employees have also faced charges in the U.S., with one sentenced to just over three years in prison.

In Germany, Volkswagen employees have also come under investigation. German police arrested Volkswagen's former engine chief Wolfgang Hatz in connection with the scandal, a person familiar with the situation told The Wall Street Journal on Thursday. Mr. Hatz oversaw engine development at the time Volkswagen engineers put together a plan to outfit some engines with the software that allowed them to dodge strict pollution restrictions.

Volkswagen is set to release third-quarter results on Oct. 27.

Write to Max Bernhard at Max.Bernhard@dowjones.com

(END) Dow Jones Newswires

September 29, 2017 04:55 ET (08:55 GMT)

BenCD

I think Gen2 buyback will happen. VW needs to cut its losses and be done with the 3.0L side of things.

Spyerx

I'm 60/40 on buyback.

BenCD

This . . .

"The new costs stem from an increase in provisions for buyback and retrofitting programs of its 2.01 TDI vehicles in North America. Settlements surrounding that proved to be "far more technically complex and time consuming" than expected, Volkswagen said."

. . . is very telling. It is why they cheated in the first place. If they can't even deal with the 2.0-side, how can they, at the same time, deal with the 3.0L fix?

It's either death by bullet-one time Gen2 buyback, or death by one thousand cuts in a modification that is as quoted, more technically complex and time consuming . . .

AARP_981_GT4

If they announce buy back, do it now. I would be on totally on board since it saves me 2 months of lease payments and hopefully I get the other $1,000 retribution money.

skiahh

I find it telling, too, but for the opposite reason.

They've already accounted for the 3.0l costs in previous disclosures and this additional possible cost specifies ONLY the 2.0l engines with no reference to 3.0l costs.

That, to me, says they're somewhat confident that the amount they've forecast for the 3.0l program is on track.

Of course, this is for 3rd QTR results only, which is the quarter just ending, I presume (don't know their fiscal calendar) and is a look back, rather than forward projection.

Either way, I don't see anything in there that indicates, or even implies, anything about the 3.0l program.

docdent

Or they haven’t even started on the 3.0L fix

Sword_of_the_Spirit

Hello all. Ever since meeting up with Chris (Spyrex) at a Buttonwillow event last year, I've had the itch for a "Do it all" Diesel. I've found a 14' diesel in the area that should have the trigger pulled this coming Monday, the 2nd. My question is how does this play for me (compensation, and warranty)? I've looked at the 3.0 Final Settlement documents and it looks like the Jan 2017 date was a cutoff for prior owners/leasee. What about afterward?

Update...I found the info at the specific VWcourtsettlement.com site. Its pretty clear on what's stated for the DEC31,19 cutoff and eligibility. Seems like a no brainer to pull the trigger regarding your extension $500 fixes.

Where the vehicle will be registered, there are no emission requirements. As such, I'm leaning toward not getting the vehicle fixed.

Thanks guys

skiahh

If you're not getting it fixed, it means nothing for you in terms of compensation. That is, you won't get any. The previous owner probably already collected the 1st half and the 2nd half is contingent upon getting the fix (assuming it's approved).

Vehicle should already have had its warranty extended to 6 years/100K miles, so again, nothing for you to do there, either (except verify it, perhaps).

PJ Cayenne

I'm not sure you can read too much into the details of the this statement. You would think that the buyback costs of the 2.0L are more predictable and now they may have to buyback the 3.0L, which generated the new charge.
Funny comment from my financial analyst wife yesterday, who mentioned she heard the cost of Dieselgate is now close the $30billion. She said "how can any company stay in business with that penalty?"

PORSCHEJAYHAWK

What generation is a 2013 Cayenne Diesel? Sorry, I'm a noob.

PJ Cayenne

958.1 with the 2.1 generation 3.0L engine.

Needsdecaf

Fix had to be submitted in the spring or they would be heavily fined.