Bloomberg Law
Aug. 25, 2016, 7:02 PM UTC

VW Reaches Accord With Dealers to Cover Diesel-Cheat Losses

Bloomberg Media

By Kartikay Mehrotra, Margaret Cronin Fisk and David Welch, Bloomberg News

Volkswagen AG agreed to pay 652 auto dealerships for their losses from the diesel-cheating scheme that’s affected more than a half million cars in the U.S.

The carmaker will buy back unfixable used vehicles under the same terms as a buy-back plan for consumers and independent dealers, lawyers for the dealerships said in a statement without disclosing the dollar value of the tentative settlement.

Volkswagen said in a separate statement that it agreed to make cash payments and provide additional benefits to the dealers to resolve their claims.

The ...

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