VW to make buyback offer on 500,000 cars?

VW to make buyback offer on 500,000 cars?


Volkswagen AG and American officials have struck a deal that could the German automotive giant offer to buy back nearly half a million diesel cars.

The deal forms part of a wider settlement of lawsuits and government fines stemming from VW Group’s emissions test cheats, which were discovered late last year .

US-based Autonews’ sources say the arrangement will be made official in front of a federal judge in San Francisco on Thursday, local time.

Customers will be offered a cash settlement, or potentially a ‘buyback’ of the vehicle.

It will include VW Golf and Jetta and the Audi A3 powered by the company’s two-litre diesel engine.

Larger Audi and Porsche SUVs won’t be included in the settlement.

The company has also agreed to pay compensation to owners of the test-dodging diesels, a person briefed on the terms of the settlements.

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