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VW Agrees to Buy Back a Few Cheater Diesels in Europe
Volkswagen AG has agreed to buy back an unspecified number of diesel-powered vehicles in Germany that had been rigged to evade emission standards, Reuters reports.
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Volkswagen AG has agreed to buy back an unspecified number of diesel-powered vehicles in Germany that had been rigged to evade emission standards, Reuters reports.
The agreement is a result of VW’s decision not to appeal two regional court rulings that plaintiffs are entitled to reparations. The compensation settlements are VW’s first in Europe.
VW points out that he rulings affect only certain vehicles with low market value. Reuters says the company doesn’t believe the settlements will have any impact on other lawsuits that demand compensation.
The company is paying affected U.S. customers $10.3 billion (€9.2 billion)—or an average $5,000 (€4,500)—in compensation. European regulators have urged VW to offer comparable payments in Europe. But the company says it hasn’t broken European laws and therefore sees no reason to compensate customers, Reuters reports.
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