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