Volkswagen Closes In on $4.3 Billion US Settlement in Diesel Scandal (bloomberg.com)

Volkswagen said it's closing in on a deal with U.S. authorities on a $4.3 billion settlement to resolve civil and criminal allegations stemming from its emissions-cheating scandal. From a report on Bloomberg: The agreement, which has yet to be finalized, would lead to a financial expense that exceeds current provisions, the German automaker said. It also includes a guilty plea to some criminal charges, strengthening compliance systems and installing an independent monitor for three years, the Wolfsburg, Germany-based automaker said Tuesday in a statement. VW's management and supervisory boards are scheduled to review the settlement today or Wednesday and may raise provisions related to the scandal, which currently total 18.2 billion euros ($19.2 billion). A final agreement also needs to be approved by U.S. courts. The U.S. Justice Department declined to comment on Volkswagen's statement.

Comments

Re:double standards

[plague911]

Actually the EU already is after their blood money from VW.

http://www.marketwatch.com/story/vw-faces-eu-push-for-fines-in-20-member-states-2016-09-05

As such I doubt that anyone would consider this an unfair targeting of VW.

Re:Buyback deal

[Bender0x7D1]

I turn in my Jetta TDI on Thursday. All I have to do is bring the car, my key fobs, and the title, and it will take about 30 minutes to do the paperwork. Everything else is how you described it.

All I had to do was, verify my VIN on the website, and tell them if I had a lien or not. Then I uploaded my registration and title to show that I am the sole owner of my car, and got my appointment to sign the paperwork.

Overall, it is going to take less than half the time of buying a new vehicle to return the old one - and that isn't bad.

The reason there are multiple steps is that there are multiple things that have to be done when you are buying or selling a car - including dealing with registration with 50 different states, plus DC, and other protectorates (Virgin Islands, Guam, etc.).