Feb 1, 2017

VW and Bosch propose deals to settle US diesel claims

Without the approval, the German car giant could be forced to buy back all of the cars, costing it about $4bn. Car components company Robert Bosch, a VW supplier, has also agreed to pay $327.5m to US owners of affected cars. The proposed settlements for the three-litre cars are the last major US hurdle for VW over its emissions scandal. The Federal Trade Commission said on Wednesday that US customers who bought the three-litre diesel cars would be fully compensated "Through a combination of repairs, additional monetary compensation, and buybacks for certain models". For owners and people leasing 2013 to 2016 models, Volkswagen is expected to get regulatory approval for a fix that makes the cars compliant with US environmental regulations, the FTC added. Thursday's $1.2bn VW settlement extends the compensation offer to cover owners of vehicles with larger three-litre engines - sold under the VW, Audi and Porsche brands.

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