VW reaches agreement on fixes, buybacks for 80,000 polluting U.S. diesels

Reuters News
Posted: Nov 15, 2016 10:02 AM

WASHINGTON (Reuters) - Volkswagen AG <VOWG_p.DE> has reached an agreement with U.S. regulators for a mix of buybacks and fixes for 80,000 polluting Audi, Porsche and VW 3.0-liter vehicles, two sources briefed on the matter said Tuesday.

The agreement includes a buyback offer for about 20,000 older Audi and VW SUVs and a software fix for 60,000 newer Porsche, Audi and VW cars and SUVs, the sources said.

A separate, more complex fix is expected to be offered for the older vehicles. Talks are ongoing between lawyers for the owners and Volkswagen over compensation for the owners ahead of a Nov. 30 court hearing.

Volkswagen, which has already agreed to spend up to $16.5 billion to resolve U.S. diesel emissions cheating allegations, and the U.S. Environmental Protection Agency declined to comment Wednesday.

(Reporting by David Shepardson; Editing by Chizu Nomiyama)