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. 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. 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.
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.