Judge approves $15 billion Volkswagen emissions settlement
SAN FRANCISCO — A federal judge in San Francisco has approved a nearly $15 billion court settlement of most claims against Volkswagen for its emissions-cheating scandal.
U.S. District Judge Charles Breyer signed the order Tuesday approving the largest auto-scandal settlement in the nation’s history.
Volkswagen admitted last year that about 475,000 VWs and Audis with 2-litre four-cylinder diesel engines were programmed to cheat on emissions tests. Under the settlement, owners of the affected cars have until Sept. 1, 2018, to decide whether to have the car fixed or repurchased. Volkswagen could start buying back the cars as early as next month if the owner submits a claim.
Most of the owners are expected to sell their cars back to VW after discovering they exceed U.S. emissions standards in real-world driving conditions. In addition to having their cars bought back, owners can each get cash payments of $5,100 to $10,000.