Volkswagen’s legal woes related to their diesel cars mounted yesterday after the Federal Trade Commission filed suit against them, stating that false emissions claims led to lower than expected long-term vehicle value.
Consumers themselves have already filed a private class action lawsuit against the German car company over lost vehicle value. But the U.S. government’s suit would give them a chance to recover even more money.
The company has admitted that between 2008 and 2015, it sold diesel cars in America they claimed were environmentally friendly, but actually violated legal emissions standards. The cars had been equipped with software that would lower emissions only during an emissions test.
Consumers purchased the vehicles thinking they were helping the environment, and that they would have a higher resale value. Now that the truth about the cars – that they send out 4,000% more of some pollutants than allowed by law – has come out, they are worth much less when resold.
Volkswagen has yet to fix the problem, because altering the software would cause the cars to suddenly lose both torque and gas mileage.
If you want to find out what your car is worth, you can use our free vehicle value calculator.