VW Said to Pay Diesel Owners Up to $7,000, Fund Air Grants
- Plan to be submitted to U.S. district court judge on June 28
- Terms to settle lawsuits after cheating on emission tests
VW Agreement Said to Pay Diesel Owners up to $7,000
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Volkswagen AG will pay owners of its polluting diesel cars as much as $7,000 each and agree to fund a program to offset air pollution, under a $10 billion settlement being negotiated for submission to a federal judge next week, said people familiar with the talks.
In addition to either fixing or buying back the affected cars, VW will provide cash payments worth between $1,000 and $7,000, depending on the vehicle’s age and other factors, to compensate consumers, the people said. All spoke on the condition they not be identified because U.S. District Judge Charles Breyer, who is supervising the settlement discussions, has imposed a gag order.