VW likely to buy back 115000 US cars: Report – CNBC

Posted: Thursday, January 07, 2016

German automaker Volkswagen AG assumes it will have to buy back about 115,000 cars in the United States as a result of the emissions scandal, a newspaper reported on Thursday.

Without citing its sources, Germany’s daily Sueddeutsche Zeitung said the company expected it would have to either refund the purchase price of a fifth of the diesel vehicles affected or offer a new car at a significant discount.

Volkswagen expects that the rest of the vehicles will need major refits, incurring significant costs for parts and a long stay at the garage as parts of the exhaust must be reconstructed and approved, the newspaper reported.

Volkswagen could not be immediately reached for comment.


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