28 Jun '16, 4pm

VW To Pay Diesel Owners up to $10K Each; Total Bill Hits $14.7B

VW To Pay Diesel Owners up to $10K Each; Total Bill Hits $14.7B

Details on exactly how Volkswagen will pay back customers and the U.S. government over its diesel emissions scandal have been finalized. To settle with owners, Volkswagen has put together a pool of $10.033 billion to cover the cost of buybacks, emissions fixes and cash settlements. The brand has also agreed to pay the US government $2.7 billion for environmental mitigation costs and another $2 billion is being spent on research into zero-emissions vehicles. That brings the total cost of Volkswagen’s diesel scandal in the US to $14.7 billion. This is also the largest consumer auto industry class action settlement in U.S. history. In September of 2015, it was discovered that Volkswagen has installed a defeat device in many of its diesel vehicles, allowing its cars to pass emissions tests while spewing illegal levels of pollution into the air. SEE ALSO: Volkswagen Embraces EV...

Full article: http://www.hybridcars.com/vw-to-pay-diesel-owners-up-to-1...

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Volkswagen Pays Up To $7,000 To Diesel Owners

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