“Speaking before the House Committee on Energy and Commerce Subcommittee, VW CEO Michael Horn said U.S. vehicles wouldn’t start being fixed until 2016 and it will take many years to repair all 500,000 affected vehicles.”
Horn said it could take between 5 to 10 hours of labor for each of the 500,000 vehicles affected in the USA. And if that wasn’t enough, the cost of the repairs might end up being higher than the vehicle’s worth.
To sum up: repairs could take years, cost lots of money, and reduce the horsepower and gas mileage of the repaired car.
“Mr. Horn told committee members Volkswagen would consider a buy-back program for all affected vehicles. It’s estimated that based on current values, the cost for such a program could reach $7 billion just for the Volkswagen vehicles on U.S. roads.”
VW is just hemorrhaging money at this point.