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A fix and buyback program for Audi V6 diesels may be on the way

While Volkswagen reached a settlement to buy back 2.0-liter diesel inline-fours with emissions defeat devices, the roughly 80,000 cars with 3.0-liter diesel V6s built by Audi have yet to be addressed. But a new report from Bloomberg indicates that a solution is near. The publication says that sources familiar with the situation say the company has a fix ready for the majority of the cars, and that the EPA and California Air Resources Board are ready to approve it. According to Bloomberg, this fix would involve a software update and would work for about 60,000 of the Audi A8, Q5, Q7, Porsche Cayenne, and VW Touareg models with the engine. The rest of the vehicles won't be fixable without major modification, so those would have to be purchased back from the owners. Bloomberg does point out that approval from the EPA and CARB are only one piece of the puzzle. The publication said that this deal has yet to be approved by owners of the cars and the Federal Trade Commission, both of which may demand that VW offer a buyback to all owners, even those whose cars can be fixed. The good news for owners of VW products with this engine, is that they should have some closure pretty soon. And owners that still like their diesel V6 can take solace that they might actually be able to get them fixed, as opposed to owners of the 2.0-liter diesels. VW offered buybacks to owners of all 475,000 cars with the turbo four-cylinders, or a fix when it's available. However, there have been no signs of an approved fix. Related Video: News Source: Bloomberg via Automotive NewsImage Credit: Sebastian Blanco Government/Legal Green Audi Porsche Volkswagen Diesel Vehicles vw diesel scandal audi diesel

Translogic 168: CES 2015 Roundup

Translogic and the yearly CES glorious gadget geekout go together like digital peanut butter and high-def jelly. At this year's show, surrounded by an egg-shaped Mercedes-Benz concept and the re-introduction of, of all things, the Sony Walkman, we had some fun. Between talking with Volkswagen about its new gesture-control tech and flying some video drones, we squeezed in some time to shred on ZBoard's new electric skateboard. The future is now. Follow Translogic on Twitter and Facebook. Click here to subscribe to Translogic in iTunes. Click here to learn more about our host, Jonathon Buckley.

VW's credit ratings could take a beating

In addition to a significant drop in its share price already, Volkswagen's diesel emissions scandal is continuing to have major financial repercussions on the German automaker. According to The Detroit News, credit rating agencies like Standard & Poor's and Moody's changed their forecasts on the company to negative, and Fitch has considered doing so, as well. Volkswagen appears to have the money to cover the costs of this ordeal, but the agencies question the effect that this has in the long term. "Moody's concern, however, is that Volkswagen's alleged breach of US environment rules and, especially, the process by which that breach occurred, will have an adverse effect on its reputation and credibility within the global passenger car markets," the company wrote in a note to investors, according to The Detroit News. VW has initially set aside $7.25 billion to fix things, but the potential shakeup of top executives has caused some investor uncertainty, too. The actual costs for VW to deal with this scandal are still unknown. In the US, the Department of Justice has begun a criminal investigation, and with other automakers the government has settled for $900 million against General Motors and $1.2 billion against Toyota. Attorneys general in 29 states have started looking deeper, according to The Detroit News, and regulators in Europe, South Korea, and Canada have commenced their own probes, as well. Related Video: