VW likely to buy back some affected cars in US, report says

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According to a German newspaper, Volkswagen considers to refund US owners of about 115,000 cars with full acquisition price or to buy them back.

In a recent report, The German newspaper Sueddeutsche Zeitung said Volkswagen contemplated two ideas for the affected diesel cars from the United States. The daily claims the company expected it would have to either refund the purchase price of a fifth of the vehicles fitted with the cheating device or offer a new car at a significant discount. The automaker expects that the rest of the cars will need major update to meet the US emissions standard, a very costly solution as parts of the exhaust must be reconstructed and approved, incurring also long waiting times at dealers, the newspaper reported. The Sueddeutsche Zeitung also said that about 50 employees, among which some division bosses, had come forward as part of an internal amnesty program to help the company clear up the scandal.

The head of Volkswagen brand said on Tuesday he was confident the German automaker will reach an agreement with US regulators to bring nearly 500,000 diesel vehicles into compliance with emissions laws. “We are confident we will find an acceptable solution,” VW brand chief Herbert Diess said at a press conference at the Consumer Electronics Show in Las Vegas, Nevada. He also said that a fix for the 2.0-litre equipped cars will be more difficult. “The intrusion into the car will be quite significant,” Diess stated of the older models.

Via Reuters