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VW to Buy Back 115,000 Diesel Cars in U.S.?
Volkswagen AG assumes it will be forced to buy back 115,000 diesel-powered cars it sold in the U.S. or offer their owners hefty discounts on new vehicles, according to today’s Sueddeutsche newspaper, which cites no sources.
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Volkswagen AG assumes it will be forced to buy back 115,000 diesel-powered cars it sold in the U.S. or offer their owners hefty discounts on new vehicles, according to today’s Sueddeutsche newspaper, which cites no sources.
The cars are among nearly 500,000 diesels VW had fitted with software to circumvent U.S. emission standards. The German daily says the balance of the cars will require costly mechanical updates to reach regulatory compliance.
The newspaper’s bleak assessment contrasts with VW’s announcement last month that European versions of the same engines with the same cheater equipment could be fixed with an easy software update. U.S. emission standards are more stringent than those for Europe.
The U.S. Environmental Protection Agency declared earlier this week that its discussions with VW to date about the diesels “have not produced an acceptable way forward.” VW brand leader Herbert Diess says he is confident the company will reach an accord.
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