WASHINGTON (Legal Newsline) — The Federal Trade Commission
(FTC) has released two new blog posts to help ensure that consumers and
businesses know the facts surrounding the agency’s settlement with Volkswagen.
Many owners of 2.0 liter Volkswagen diesels will soon be
able to sell their vehicles back to Volkswagen AG at a rate higher than their
current replacement value. This comes after the company settled for $10.03
billion with the FTC due to allegations of deceptive advertising.
The FTC said it wants to make sure that customers know it would be
unwise for anyone, including independent VW dealers, to make separate offers
implying either that the offer is part of the settlement when it is not, or
attempting to force affected diesel owners to buy a new VW or Audi. The FTC
noted that its staff will watch closely to ensure these types of things do not
happen. It will work hard to make sure the compensation price is not
affected by deception.
The blog also mentions affected customers do not need
to act quickly because the buyback program is not yet making payments. Additionally,
consumers are free to use their buyback money for anything they want.
Organizations in this Story
U.S. Federal Trade Commission
600 Pennsylvania Ave NW
Washington, DC 20580
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