Dieselgate: VW to settle emission scandal in US by October

From the 4,75,000 units affected in the United States, 2,10,000 have filed for a settlement as per the terms of the June court agreement

After endless discussions, it seems like Volkswagen AG is nearing its final settlement with US authorities with respect to the emission scandal involving its large-engined diesel cars. Dietmar Voggenreiter, Head of Sales and Marketing worldwide for Audi recently confirmed that they should have the final agreement with the authorities by the end of October or latest the beginning of November. While these negotiations are primarily concerning its 2.0-litre diesel mill, discussions relating to the 3.0-litre engine in Volkswagen and Audi cars are progressing as well.

Last September Volkswagen confessed the usage of a sophisticated software that allowed its cars to cheat the emissions tests. This diesel emission scandal affected nearly 11 million vehicles worldwide. Earlier in June, the Wolfsburg based car maker agreed to pay $15.3 billion for car buybacks and fixes to 4,75,000 Volkswagen and Audi cars that were installed with the cheating software. Nearly 2,10,000 car owners have asked the VW to buy back their cars rather than waiting for a fix.

This worldwide scandal that has been termed ‘dieselgate’ has cost Volkswagen a lot of money, not to mention drop in its profits and the hit on its reputation across the globe.

This is the first of the many settlements, what remains to be seen is how and when the company will settle the scandal in the other markets that are affected.

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