Watch CBS News

VW To Pay $1 Billion To Compensate Owners Of Emissions-Cheating Diesels

DETROIT (CBS/AP) -- A person briefed on the matter says Volkswagen has reached an agreement with the U.S. government to spend just over $1 billion to compensate owners of diesel-powered cars that cheat on emissions tests.

The person says it's an agreement in principle that does not include final details of how much each owner will get. Those figures have yet to be worked out. Some owners would have the option of getting their cars repaired or having Volkswagen buy them back.

The agreement likely will be revealed Thursday morning during a court hearing in San Francisco. The person says it will not include plans to fix the cars, which apparently are still under negotiation.

The person didn't want to be identified because the terms of the deal are not public.

© Copyright 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.