VW Has Bought Back Nearly Half of its 2.0 TDIs

Volkswagen’s buyback process is humming along, as the company now reports that it has bought back nearly half of its cheating diesels in the US.

The automaker agreed to buy back at least 85% of the 475,000 TDIs that it sold in the US since it started cheating on emissions tests.

In a letter to a US judge overseeing the settlement, VW said that it has bought back almost 238,000 2.0-liter TDIs and fixed 6,200 of them.

Volkswagen recently gained government approval to sell 2015 model year TDIs, but earlier models still can’t be sold and have no approved fix. As a result, their fate is uncertain.

Many of the vehicles are being stored in lots around the US, such as the contentious Pontiac Silverdome, in Michigan. If VW can gain approval to fix them—as it says it intends to do—the company may be able to resell them in the US or in foreign markets. If it can’t, though, the cars may have to be recycled.

Volkswagen launched the biggest buyback process in automotive history six months ago after it admitted to manipulating emissions tests. Its diesel vehicles emitted up to 40 times the legal limit of NOx, a cancer causing pollutant, thanks to a program that allowed them to detect when regulators were testing emissions.

As a result of the cheating, VW has agreed to spend as much as $25 billion to owners, regulators, states, and dealers.

[source: Automotive News]