Yahoo Autos VW's 3.0-Liter Diesel Settlement Likely Means $200 Million in Additional Fines
Back in July, Volkswagen agreed to spend nearly $10 billion to fix or buy back the diesels it had sold with emissions-cheating software. But that agreement only included 2.0-liter diesels. It wasn't until November that it reached a settlement for its noncompliant 3.0-liter V6 diesels. Now we have an idea of how much it'll cost the German automaker.
Reuters reports that Volkswagen has reached an agreement with regulators to pay an additional $200 million into the environmental protection fund it created. That would bring the total it spends on pollution mitigation up to nearly $3 billion.
Volkswagen also has to work out how much it will compensate owners. There's still no word on how much each person will receive, but Fortune reports that with buybacks and payouts to owners, fixing its cheating 3.0-liter diesels could cost the German automaker another $1 billion.
If so, that would push the total cost of this diesel emissions scandal in the U.S. well past $16 billion. Look for an official announcement later today or tomorrow.
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