Volkswagen Likely to Buy Back 115,000 TDI Cars in U.S.

Washington DC January 7, 2016; The AIADA newsletter reported that Volkswagen AG assumes it will have to buy back about 115,000 cars in the United States as a result of the emissions scandal, reports CNBC.

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.

On Tuesday, VW brand chief Herbert Diess said he was confident the German automaker would reach agreement with U.S regulators to bring nearly 500,000 diesel vehicles into compliance with U.S. emissions laws.

In an interview with Reuters, Diess said fixing older VW cars equipped with 2.0-litre diesel engines would be more difficult than bringing more recent models into compliance. Some U.S. regulators and lawmakers have said VW may have to buy back older models.

Diess did not say whether VW was discussing that, but said he was optimistic an agreement with U.S. regulators would be reached soon. .