Volkswagen has said it will be hit by a €2.5bn (£2.2bn) charge because its plans to repurchase and retrofit cars affected by the “dieselgate” scandal have proved more difficult than expected. The car giant said the buyback programme in North America “is proving to be far more technically complex and time consuming” than originally thought and will require increased provisions. The surprise charge in the car maker's third quarter means the total damages to Volkswagen from the scandal now amount to more than €25bn. Volkswagen last year reached one of the largest ever consumer settlements in which it said it would offer buybacks or retrofits to owners of around 500,000 vehicles affected in the emissions-cheating scandal.
Volkswagen (VW) has claimed that it expects to receive a € 2.9bn ($ 2.5bn ) 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 third quarter and applicable to one 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.