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Report: VW May Buy Back 115,000 Cars

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Jan. 7, 2016—The Volkswagen Group may have to buy back around 115,000 cars in the U.S. as a result of the emissions scandal, according to a report by Reuters.

VW will either have to refund the purchase price of about 115,000 cars or offer a new car at a significant discount, reported German newspaper Sueddeutsche Zeitung.  

The 115,000 number covers only about a fifth of the vehicles affected. Volkswagen expects the remaining vehicles will need major refits.

On Tuesday, VW brand chief Herbert Diess said he was confident that VW would reach agreement with U.S. regulators to bring the affected diesel vehicles into compliance with U.S. emissions laws, according to Reuters.

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