Volkswagen will plead guilty to three felony counts. The German car company willingly stated that they will buy back about 500,000 cars in question, but delays will pursue because of the overwhelming numbers of requests.
Set on Feb. 24 in Detroit, Volkswagen will plead guilty as part of a plea agreement to resolve the issue on alleged cheating on diesel emissions for their car products. The charges state that the company installed a software on U.S. launched cars that allowed them to bypass the legally permitted pollution.
An amount of $4.3 billion settlement fines will be paid to US regulators. Volkswagen will also have a total change of operation in the United States and other countries worldwide.
On the other hand, the buyback offer of Volkswagen for their consumers seems to be slow in action. This may seem to be reasonable as a total of 400,000 requests suddenly surged into their offices in just a short period of time.
However, vehicle owners claim that Volkswagen has been asking for multiple paperwork, even if the applications were already completed. The buyback requests should be finished within three months, according to the legal settlement ruled by the judge, though it seems to be inconclusive if they will be able to deliver all the requests on time.
The ruling dates back in October 2016, where US District Judge Charles Breyer approved the settlement representing the 500,000 Volkswagen car owners. A total of $10 billion is allotted to buyback the cars that were programmed to turn on pollution controls when being checked for legal tests but will turn off when running on roads.
Based on the court documents, Volkswagen will have 10 days to review an application for buyback and another 10 days to settle the deal with the owner. But further delays are experienced by complainants. They believe that Volkswagen is stalling the process so that more miles will be registered on the cars, thus lowering the value the company has to pay.
