U.S. District Judge Charles Breyer gave the deal final approval during a hearing Thursday.
The deadline to file a claim is December 31st, 2019 and vehicle buyback values will be calculated from September 18th, 2015 which is the date the allegations of emissions cheating became public. "We believe the substantial compensation and steps to fix or remove polluting cars from the roads detailed in the settlements provide excellent value to consumers and hold Volkswagen and Bosch accountable for their breach of consumer trust".
The development brought the scandal-plagued German auto giant a step nearer to closing the book on the "dieselgate" affair, which rocked the company for almost two years since it admitted configuring some 11 million cars worldwide to evade emissions testing.
In October, the court endorsed a record-setting $15 billion compensation deal that covered the approximately 480,000 2.0-liter Volkswagen diesel cars also equipped with software created to defeat emissions tests. The settlement [Reuters report] requires Volkswagen to pay at least $1.22 billion to buy back or fix 80,000 3.0-liter vehicles. This week's approval will immediately launch the buyback and compensation process for several groups of owners, including the majority who will keep their vehicles and receive compensation and a technical update package.
In total, VW has now agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, US states and dealers and to make buyback offers.
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The earlier settlement concluded in a $14.7-billion deal, finalized in October 2016, to lay to rest claims over some 500,000 two-liter diesel engine vehicles tainted by emissions-cheating software.
As part of the $1.22 billion settlement, VW will purchase back or fix approximately 20,000 of the "Generation 1" models, consisting of 2009-12 model year VW Touareg and Audi Q7 models, and fix more than 58,000 "Generation 2" VW, Porsche and Audi vehicles from the 2013-16 model years.
Addressing the court Thursday morning, three objectors complained the three-liter settlement fails to adequately compensate owners of newer-model "generation 2" vehicles and those who leased the affected automobiles.
On top of the consumer compensation, the company must also pay $225 million for environmental remediation after the 3-liter diesel vehicles spewed nitrogen oxide at excessive rates.
The defeat devices made the vehicles appear to be compliant with emissions standards when in reality they were emitting illegal levels of pollutants. Some 11 million cars worldwide have the deceptive software.