VW could be sorry to the tune of $15 Billion
In total, Volkswagen is expecting to spend around $17.9 billion for vehicle modifications, legal costs, buybacks, and cash payouts related to the scandal. However, a report from Reuters suggests that the separate settlement for Puerto Rico, the District of Columbia, and at least 44 U.S. states will cost at least $600 million, meaning that in the U.S. alone, it’s likely that Volkswagen could spend more than what they’ve set aside. Should many owners opt for an approved fix, the amount Volkswagen could spend on buybacks would likely be a lot less. Owners will also get a minimum of $5,100 from the automaker as compensation along with vehicles’ pre-scandal value plus an additional sum that could be up to $10,000, according to Reuters’ report.