VW May Buy Back 500,000 Diesel Vehicles, Pay Affected Owners $5,000
April 21, 2016
April 21, 2016—Volkswagen and U.S. officials have reached a deal for VW to offer to buy back up to 500,000 emissions-cheating diesel cars according to a report from Reuters.
U.S. District Judge Charles Breyer gave VW until Thursday to announce the “proposal for getting the polluting vehicles off the road.”
According to Breyer, the proposal would include a plan for vehicle buy-back or a fix for the emissions systems that would allow the car to comply with regulations. Customers who get their cars fixed may also get a cash compensation. Customers are expected to have two years to decide whether to sell back or have their vehicles fixed.
A German newspaper, Die Welt, also reported that VW may pay each affected customer $5,000.
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