Good news for owners of emissions-cheating Volkswagen cars. Judge Charles R. Breyer of the United States District Court in San Francisco declared that owners of such cars will be able to choose between buybacks or repairs. Volkswagen has agreed to the terms, to fix or buyback around 500,000 diesel cars in the United States which are currently equipped with illegal emissions software.
VW said in a statement it "has reached an agreement on the basic features of a settlement with the class action plaintiffs in the lawsuit in San Francisco. This agreement will be incorporated into a comprehensive settlement in the coming weeks."
The emissions scandal cost Volkswagen significant resources. Besides the expenses expected on the buybacks and repairs, the company also faces a maximum government fine of $18 billion in the United States. Company representatives expected the actual fine to be lower.
The cost of buying back all the cars with the illegal emissions software in the United States alone, is estimated to be $7 billion, according to the research firm Kelley Blue Book.
The agreement with Judge Volkswagen also meant to environmental damages. According to Judge Breyer the agreement “will fully address any excess emissions and environmental consequences.”