Volkswagen to Face $15 Billion Tab in U.S. Settlement
- $10 billion for car owners, $5 billion in fines and investment
- Carmaker still faces inquiries in other jurisdictions
VW, U.S. Agree to $14.7 Billion Emissions Settlement
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Volkswagen AG’s price tag to settle lawsuits in the U.S. over its rigging of diesel emissions tests has jumped to more than $15 billion -- $5 billion more than previously reported -- on the eve of a settlement to be filed Tuesday in a San Francisco court.
Under the deal, VW will set aside up to $10.03 billion to cover costs including buying back vehicles at pre-scandal values and compensating drivers as much as $10,000 per car for their troubles, two people familiar with the negotiations said. Those figures could rise if VW misses certain deadlines.