Volkswagen may be prepping a massive buyback of its dirty diesel cars in the US
REUTERS/Shannon Stapleton
The plan is one of several options being discussed between the German automaker and the US Environmental Protection Agency, as part of Volkswagen's effort to correct a massive emissions scandal that rocked the brand in September.
According to a report from Bloomberg, the carmaker could buy back diesel-engine Volkswagen vehicles that were rigged to cheat US emissions regulations, and are too difficult to fix.
Talks of a potential buyback come as Volkswagen and federal regulators discuss ways to bring the more than half-million affected Volkswagen cars in the US up to current emissions standards.
According to unnamed sources cited by Bloomberg, the vehicles - which include some Audi models - may be too difficult or too old to fix.
For its part, Volkswagen has been working to get the affected diesel cars repaired. Volkswagen passenger cars chairman, Herbert Diess noted this week that repairs of 8.5 million of the 11 million affected cars worldwide will begin soon.
Diess made those remarks at the Consumer Electronics Show in Las Vegas on Tuesday. He opened his keynote addresss that night with an apology: "We disappointed the American people and our customers."
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market