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Volkswagen to offer up to 10,000 Euros premium for VW customers who trade in their old diesel models for new ones
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A €10,000 (approximately £9,120) premium is a very attractive offer after two years of denying financial help and legal liability to victims of the atrocious emissions scandal the major car corporation was engaged in for something like a decade before getting caught in 2015.
As part of this new strategy employed by VW, here are what some owners could expect to receive towards purchasing a new VW vehicle as part of a trade-in scheme:
| Model | Trade-In Value |
|---|---|
| Mini | Up to €2,000 |
| Golf | Up to €5,000 |
| Sharan | Up to €8,000 |
| Passat | Up to €8,000 |
| Touareg | Up to €10,000 |
It’s believed that any vehicle that was designed to meet the emissions standards for Euro 4 or lower could expect a rebate. Audi, a Volkswagen Group subsidiary company, has offered similar incentives valued between €3,000 and €10,000.
Porsche have also announced similar schemes.
In addition to the rebates, VW may also add another €1,000 to €2,380 to help towards purchasing an ‘alternative energy’ vehicle. Buyers can expect to receive this incentive when they trade-in used diesel cars for cleaner electric, hybrid and natural fuel-powered vehicles.
Parent company of luxury Mercedes cars, Daimler, is also offering some owners in Europe a €2,000 incentive when a customer trades in their older vehicle for a new diesel or plug-in hybrid car. The company believes they have around 300,000 vehicles across Europe that may only be Euro 4 compliant. If all of these owners take advantage of the incentive and swap their cars with Daimler, it could leave the company out of pocket by €600 million (£456 million).
The incentives may have been prompted by the recent political talk in Germany with politicians pushing to help tackle car emissions pollution. Discussions of bans for diesel vehicles may have scared VW into taking action as a ban on all diesel vehicles could be a huge problem. According to the German Transportation Safety Agency, around 6.4 million older cars with diesel engines are still registered in the country.
After VW were found to have cheated car emissions testing by installing software to manipulate NOx emissions results, VW agreed to update the software to meet Euro 5 and Euro 6 emissions regulations. Reportedly, those that can’t be updated may be being offered trade-in deals with these financial incentives. However, there are still concerns that the software “fix” isn’t actually a “fix” for those vehicles it can be applied to.
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