Volkswagen's US Dieselgate Settlement Mushrooms To $15 Billion

Volkswagen AG's settlement with nearly 500,000 U.S. diesel owners and government regulators over polluting vehicles is valued at more than $15 billion cash, two sources briefed on the matter told Reuters on Monday.

The settlement, to be announced on Tuesday in Washington, includes $10.033 billion to offer buybacks to owners of about 475,000 polluting vehicles and nearly $5 billion in funds to offset excess diesel emissions and boost zero emission vehicles, the sources said.

Read Article

MDarringer - 6/28/2016 8:51:17 AM

-1 Boost

$30B seems more appropriate.

mre30 - 6/28/2016 9:16:44 AM

+1 Boost

That dollar amount makes sense. Its also a little cheaper because the Euro weakened due to the Brexit volatility.

Passenger car diesels time in the US market should be coming to a close.

The two oxygen sensors for my MB GL350 Bluetek are on a slow boat from Germany and won't be here 'til August (and my dealer is MB Manhattan which is owned/operated by MB USA Corporate - so they the parts as fast as anyone). US diesels are held together by string, feathers, and duct tape to meet the emissions standards and they whole system is just too fragile to be viable in my opinion. My check-engine lite has been on for a month.