Hyundai targets VW diesel buyback owners with special prices
To qualify for this "Friends & Family Plus" pricing – also known as the Hyundai Circle V-Plan – shoppers must own one of the qualifying Volkswagen or Audi 2.0-liter TDI models.
Now that a final settlement has been approved by US District Court Judge Charles Breyer, Volkswagen can begin sending out buyback offers to hundreds of thousands of 2.0-liter TDI diesel owners.
The majority of affected owners are expected to take the buybacks, rather than wait for any approved modifications that may allow their cars to comply with emissions standards.
That means a good portion of the 475,000 owners covered by the settlement will be in the market for new cars.
And one clever set of auto marketers hope to take advantage of that.
The Korean automaker Hyundai is quietly rolling out special pricing for VW diesel owners, according to CarsDirect.
To qualify for this "Friends & Family Plus" pricing—also known as the Hyundai Circle V-Plan—shoppers must own one of the qualifying Volkswagen or Audi 2.0-liter TDI models.
That car must also have been purchased or leased before September 18, 2015, the day VW's emissions cheating was revealed by the U.S. Environmental Protection Agency.
Customers must present a class-settlement letter at a Hyundai dealer in order to get the discount.
The offer includes a flat discount plus additional incentives on Hyundai models, according to CarsDirect.
It's similar to the employee and supplier discounts offered by Hyundai and other carmakers, but instead it targets Volkswagen diesel owners in the retail market.
On a 2017 Hyundai Elantra SE compact sedan, the Circle V-Plan offers choice of $2,000 in cash or 0.9-percent APR financing for 60 months, plus $1,000 cash or no payments for six months.
Hyundai reportedly isn't going out of its way to advertise the incentive program, which will run through January 3, 2017.
Volkswagen hasn't confirmed when it will begin sending out buyback offers, but that could begin within weeks.
Hyundai appears to be the only automaker targeting VW diesel owners with special pricing, but it's not the only one that views the diesel scandal as an opportunity.
General Motors intends to pitch an upcoming diesel version of its Chevrolet Cruze compact as a replacement for Volkswagen TDI cars.
The previous-generation Cruze diesel was never a strong seller, but with Volkswagen still refraining from selling new TDI models in the U.S., the Chevy will have significantly less competition.
This story originally appeared on GreenCarReports.