ODD ANDERSEN/AFP/Getty Images(NEW YORK) — Volkswagen agreed Wednesday to pay more than a billion dollars to settle claims over emissions cheating.
The settlement with the Federal Trade Commission compensates 78,000 owners of 3.0-liter TDI diesel vehicles rigged to cheat on emissions tests.
If approved, affected vehicles would be recalled and fixed. Volkswagen would buy back older cars or give owners trade-in credits or lease termination.
“With the Court-approved 2.0L TDI program well under way and now this proposed 3.0L TDI program, all of our customers with affected vehicles in the United States will have a resolution available to them,” Hinrich Woebcken, the president and CEO of Volkswagen Group of America, Inc., said in a statement Wednesday. “We will continue to work to earn back the trust of all our stakeholders and thank our customers and dealers for their continued patience as this process moves forward.”
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