Vw Buy Back

Last month, VW said it was taking another $3 billion charge to fix diesel engines in the United States, lifting the total bill for its emissions-test cheating scandal to around $30 billion.

The settlement deal covered luxury VW, Audi and Porsche vehicles with 3.0-litre engines, meaning Volkswagen has now agreed to spend as much as $17.5 billion in the US to resolve claims from owners as well as federal and state regulators over polluting diesel vehicles.

A U.S. federal judge on Tuesday approved Volkswagen AG's record-setting $14.7 billion settlement with regulators and owners of 475,000 polluting diesel vehicles, and the German automaker said it would begin buying back the vehicles in mid-November.

Volkswagen AG and US officials have reached a framework deal under which the automaker would offer to buy back almost 500,000 diesel cars that used sophisticated software to evade US emission rules, two people briefed on the matter said on Wednesday.

Volkswagen estimates that it might have to buy back around 115,000 diesel vehicles that are affected by the emission cheating scandal in the US, according to a report in the German daily Sueddeutsche Zeitung.

Last month, VW said it was taking another $3 billion charge to fix diesel engines in the United States, lifting the total bill for its emissions-test cheating scandal to around $30 billion.

The settlement deal covered luxury VW, Audi and Porsche vehicles with 3.0-litre engines, meaning Volkswagen has now agreed to spend as much as $17.5 billion in the US to resolve claims from owners as well as federal and state regulators over polluting diesel vehicles.

A U.S. federal judge on Tuesday approved Volkswagen AG's record-setting $14.7 billion settlement with regulators and owners of 475,000 polluting diesel vehicles, and the German automaker said it would begin buying back the vehicles in mid-November.

Volkswagen AG and US officials have reached a framework deal under which the automaker would offer to buy back almost 500,000 diesel cars that used sophisticated software to evade US emission rules, two people briefed on the matter said on Wednesday.

Volkswagen estimates that it might have to buy back around 115,000 diesel vehicles that are affected by the emission cheating scandal in the US, according to a report in the German daily Sueddeutsche Zeitung.