Volkswagen will pay its customers the largest compensation in automotive history

Volkswagen_largest_compensation_in_automotive_history

German car manufacturer Volkswagen will pay $15 billion to its US customers who were affected by the emissions scandal. At the end of last summer, the company admitted that they manipulated the emissions test on some of its models.

The negotiated agreement includes options for repair or repurchase of the affected cars and paying compensation to their owners, according to sources cited by BBC.

When Volkswagen admitted the problems with the tests they confirmed that the total of the affected vehicles is 11 million.

The agreement on the compensation has not been confirmed by the US court yet, but if this happens it will become the largest such deal in the history of the automotive industry.

According to the information, $10 billion of the amount will go to the repair or repurchase of about 475 thousand cars, and the remaining money will be allocated for other expenses and compensation to customers.

They, however, can reject the proposal of the European corporation and proceed an action against it.

Since the beginning of the scandal, Volkswagen was forced to pay fines amounting to $18 billion in the US alone.

 

About the Author

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Martina T.
Martina Terzieva is a content writer for Business News Feeds. She likes to dig deep, find the most interesting things that happen and share them with the world. Besides news, Martina writes poetry, she's also a musician and a sound engineer.

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