Despite low-cost diesel fix, VW not reducing $7 billion fund
Group CEO Matthias Müller called the repairs "technically and financially manageable," yet since the company still doesn't know how much the actual costs are going to be, "there is no reason to alter planned provisions." Remember, Volkswagen's target is still that neither engine will suffer any loss of performance or fuel economy, but VW isn't sure that's the case so there is plenty of room for surprise.
The fixes only apply to VW vehicles in Europe, representing 8.2 million of the 8.5 million vehicles outside of compliance. The company plans to commence the recall in January 2016 and figures the completion of work for every engine affected will take the entire year. Owners will be provided "appropriate replacement mobility options," which we'll assume means loaner vehicles. The fix for the 1.2-liter diesel will be shown at the end of the month.
VW also recently described to the California Air Resources Board how it will fix the half-million or so diesel vehicles in the US that contain the "defeat" software.
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Get recall details from the NHTSA and find out what to do if your car been recalled.