Volkswagen gives $500 Visa Cards and Dealership Credits to its Diesel Car Owners

Volkswagen gives $500 Visa Cards and Dealership Credits to its Diesel Car Owners

Date: 10 Nov 2015

German automaker, Volkswagen, is offering $500 Visa Debit Cards and VW/Audi dealership credits to its 482,000 US diesel cars owners, in an attempt to compensate them for having installed software designed to cheat emissions regulations. It is said that the $500 Visa Debit Card can be spent on anything. The company will also give them 3 years of free 24-hour roadside assistance.

By accepting the offer, vehicle owners are required to visit www.vwdieselinfo.com, enter their Vehicle Identification Number (VIN), their mileage and contact information. They also need to take their cars to the dealers to activate the gift cards.

To be eligible, consumers must be the registered owner of a Volkswagen diesel with the 2-liter TDI engine as of Nov. 8.

The vehicles included in the offer are the four-cylinder diesel versions of the 2009 to 2015 Jetta TDI, 2009 to 2014 VW Jetta SportWagen TDI, 2010 to 2015 VW Golf TDI, 2015 VW Golf SportWagen TDI, 2012 to 2015 VW Beetle TDI and VW Beetle Convertible TDI and the 2012 to 2015 VW Passat TDI. Owners of the 2009-15 diesel Audi A3 will receive also receive the offer.

The company sold about 482,000 of the vehicles with the cheating software in the U.S. and up to 11 million worldwide. VW is facing a criminal investigation in the U.S. and potential federal Clean Air Act violation fines of up to $18 billion.

“We are working tirelessly to develop an approved remedy for affected vehicles, in the meantime, we are providing this Goodwill Package as a first step towards regaining our customers’ trust.

– said Michael Horn, president and CEO of Volkswagen Group of America.

Affected owners must register for the package by 30 April 2015. This offer is only for U.S. customers.

VW dealers are facing a tougher time selling cars.

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Original Source: VWDieselinfo.com

Miss QT started her career with Credit Suisse Investment Bank issuing Structured Products to Private Banks, and later joined UBS Private Bank where she spent the bulk of her career. She works at a Technology Hedge Fund that specializes in global technology investments. A graduate of Duke University, she holds two degrees from the School of Engineering, and double majored in Computer Science and Mathematics. She trades the Global Equities Market and conducts proprietary reesearch on Algorithmic Investing (from Quandl with over 10 million datasets to Multicharts) to improve investment decisions. During her free time, Miss QT plays Golf.