Judge OKs nearly $15 billion Volkswagen emissions deal
A federal judge approved the largest auto-scandal settlement in U.S. history Tuesday, giving nearly a halfmillion Volkswagen owners and leaseholders the choice between selling their cars back or having them repaired so they don’t cheat on emissions tests and spew excess pollution.
U.S. District Judge Charles Breyer said the nearly $15 billion deal “adequately and fairly” compensates consumers and gets the polluting vehicles off the road as soon as possible.
The German automaker acknowledged last year that about 475,000 Volkswagens and Audis with 2-liter, four-cylinder diesel engines were programmed to cheat on emissions tests. Under the agreement, owners can choose to have Volkswagen buy back the vehicle regardless of its condition for the full trade-in price on Sept. 18, 2015, when the scandal broke, or pay for repairs. In either case, Volkswagen also will pay owners $5,100 to $10,000.