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VW Is Storing Nearly 300,000 Repurchased Diesels in U.S.
Volkswagen AG has stashed about 294,000 diesel-powered cars across the U.S. that it bought back from customers after admitting the vehicles were rigged to evade U.S. emission laws.
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Volkswagen AG has stashed about 294,000 diesel-powered cars across the U.S. that it bought back from customers after admitting the vehicles were rigged to evade U.S. emission laws.
The buybacks are part of a VW settlement in 2017 to either fix or repurchase about 555,000 4- and 6-cylinder diesels it doctored to cheat on pollution tests. Reuters, citing a court filing by the program’s administrator, says the carmaker has spent $7.4 billion on the buybacks to date.
The court filing indicates that VW reclaimed 335,000 diesels, destroyed about 28,000 of them and resold 13,000 others. The company is obliged to either fix or buy back 85% of the affected vehicles by June 2019 or face new fines.
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