Volkswagen (VW) has claimed that it expects to receive a €2.5bn ($2.9bn) charge as a result of the fact that the firm’s plans to repurchase and retrofit cars affected by its emissions scandal have proved harder than anticipated. The German carmaker said on Tuesday that it would pay back some owners who had bought diesel vehicles with software designed to cheat emissions tests. Total damages for the firm resulting from the scandal are now over €25bn.
Volkswagen (VW) has claimed that it expects to receive a €2.5bn ($2.9bn) charge as a result of the fact that the firm’s plans to repurchase and retrofit cars affected by its emissions scandal have proved harder than anticipated. VW said that the North American buyback scheme, agreed last year and applicable to around 500,000 vehicles, was “proving to be far more technically complex and time consuming” than expected. Total damages for the firm resulting from the scandal are now over €25bn.