Volkswagen AG has paid more than $7.4bn to buy back about 350,000 US diesel vehicles, a recent court filing shows. Volkswagen has 37 secure storage facilities around the US housing nearly 300,000 vehicles, the filing from the program’s independent administrator said. The court filing said through 31 December Volkswagen bought back 335,000 diesel vehicles, resold 13,000 and destroyed about 28,000. In April 2017 Volkswagen was sentenced to three years probation after pleading guilty to three felony counts and paid $4.3bn in penalties. In September 2015 it admitted to circumventing the emissions control system in diesel vehicles for vehicles sold since 2009, prompting the resignation of the company’s chief executive.

Source: The Guardian March 29, 2018 05:26 UTC