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VW clears US buyback hurdle

Wednesday, July 27, 2016 - 01:12

VW's $15 billion settlement of its U.S. diesel emissions cheating scandal clears another legal hurdle as a federal judge gives the automaker preliminary approval to buy back up to 475,000 vehicles. Hayley Platt reports.

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It's not home and dry yet but another move forward on the road to recovery for Volkswagen. U.S. authorities have made a preliminary agreement for VW to buy back up to 475,000 of its 2.0 litre diesel cars caught up in the emissions scandal. It means owners will soon find out how much compensation they'll be eligible for. As part of a $15 billion settlement, VW says it's working with regulators to try and get more fix approvals which could include software upgrades and new catalytic converters. It's also looking at a new fix for its 85,000 3.0 litre vehicles after the Californian regulators rejected an earlier plan. They would include its core luxury VW brand as well as Audi models made between 2009-2016. Last September VW admitted to installing secret software, allowing U.S. vehicles to emit up to 40 times the legal amount of pollution. The final approval for the latest buy back is set for October.

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VW clears US buyback hurdle

Wednesday, July 27, 2016 - 01:12