According to dealers who met with Volkswagen AG executives in Newark, N.J. on Friday, the company is committed to revealing a plan to compensate dealers affected by the automaker’s diesel scandal within the next 30 days.
At the first of a series of nationwide gatherings, more than 150 dealers from the northeastern part of the country were told how the company plans to implement the $15 billion settlement that it recently reached with the government and owners of its vehicles.
Dubbed the The TDI Settlement Program, the plan outlined how customers would be able to either have their vehicles fixed or sell them back to dealers. More than 500,000 Volkswagen vehicles equipped with diesel engines are in active use, while an additional 12,000 units that dealers are unable to sell are in storage.
During the meeting, Mark McNabb, a senior executive from Volkswagen Group of America, Inc., told dealers that an agreement that would provide them with “fair restitution” for damages resulting from the scandal would be decided upon within the next month.