The $14.7-billion settlement also does not include roughly 90,000 3-liter Volkswagen diesels, which had another version of cheating software. The average value of a VW diesel has dropped 19% since just before the scandal began. Volkswagen would repair or buy back polluting diesel vehicles and pay each owner as much as $10,000 under a $14.7-billion deal the automaker has reached to settle lawsuits stemming from its emissions cheating scandal, a person briefed on the settlement talks said Monday. The settlement also includes $2.7 billion for environmental mitigation and $2 billion for research on zero-emissions technology, the person said. The figure would be the largest auto scandal settlement in U.S. history and a huge step in Volkswagen's efforts to address the legal fallout from its admission that its vehicles were designed to fool emissions tests.

Source: Los Angeles Times June 27, 2016 22:03 UTC