VW finds another $1bn for US settlements
Volkswagen will have to find another $1bn in its ever-rising bill for the emissions scandal.
The Wall Street Journal has reported that VW is on the verge of agreeing compensation terms for drivers of its 3.0-litre diesel engines, including certain Porsche and Audi brands.
It’s understood this includes taking back and fixing some 60,000 vehicles, while a further 20,000 that can’t be fixed will be bought back.
VW has already agreed to pay drivers up to $10bn in compensation and another $4.7bn into programmes to counter the impact of excess emissions from its vehicles.
It has also paid out $1.2bn to US dealers and $600m to states, taking the total bill in the US to $17.5bn.