#VWDiesels

Volkswagen’s buyback process is humming along, as the company now reports that it has bought back nearly half of its cheating diesels in the US.

After long negotiations and a last minute extension, Volkswagen has finally reached an agreement with regulators on how to compensate owners of vehicles equipped with the 3.0-liter TDI engine, made up of mostly Audi and Porsche SUVs. 

It sounds like  Volkswagen plans to pull all of its diesel models out of the U.S. market. 

Volkswagen is expected to announce buybacks of about 500,000 diesel vehicles fit with emissions cheating software in the U.S. 

Volkswagen doesn’t think that a trial will be needed this summer to settle damages over its cheating diesels in the U.S. 

Volkswagen AG is being sued by the U.S. Federal Trade Commission (FTC) for falsely advertising its diesel engines as clean when they were actually spewing excess pollution into the atmosphere. 

Volkswagen was forced to take a $21B loan and if the automaker can’t pay it back, it may have to begin selling off assets. 

Volkswagen CEO Martin Winterkorn has once again apologized for his company’s betrayal of the public trust by cheating diesel emissions testing.