Volkswagen May Buy Back Over 100K Diesel Cars in the US

Volkswagen May Buy Back Over 100K Diesel Cars in the US

Volkswagen is already betting on having to buy back at least 115,000 diesel-equipped vehicles in the U.S.

This is according to German publication Sueddeutsche Zeitung, which is claiming that Volkswagen will have to refund the purchase price of about one fifth of the 580,000 diesel-powered vehicles that don’t meet U.S. emissions regulations. The brand may also offer a new car at a significant discount to the affected owners.

As for the rest of the affected vehicles, Volkswagen expects that they will need a major refit of parts to become compliant, which will cost a significant amount of both money and time.

SEE ALSO: The Feds are Suing Volkswagen for Violating the Clean Air Act

VW is still working to reach an agreement with U.S. regulators on how exactly it will fix the problematic cars, though VW brand chief Herbert Diess is confident that brand will find a suitable fix soon. It is the older cars fit with 2.0-liter diesel engines that Diess says will be the hardest to bring into compliance.

On Wednesday, the U.S. Environmental Protection Agency (EPA) said that the discussions with Volkswagen have still not produced “an acceptable way forward. EPA continues to insist that VW develops effective, appropriate remedies as expeditiously as possible.”

Volkswagen is also being sued by the U.S. Justice Deparrmtent over the scandal, which may end up costing the German automaker $48 billion.

The fix for VW’s diesel cars in Europe has already been agreed upon and Diess believes that about 8.5 million vehicles will be fixed by the end of 2016 in Europe.

[Source: via Automotive News]