VW to offer 'generous' compensation to owners, report says

February 8, 2016 at 10:34 a.m. | Updated February 8, 2016 at 10:35 a.m.

by Wire Service

FILE - In this Sept. 26, 2015 file photo a giant logo of the German car manufacturer Volkswagen is pictured on top of a company's factory building in Wolfsburg, Germany. Volkswagen says it is postponing release of its full-year earnings as well as its annual shareholder meeting due to open questions about its diesel emissions scandal. The company said Friday Feb. 5, 2016 it would give new dates for the earnings release, formerly slated for March 10, and for its shareholder gathering originally set for April 21. (AP Photo/Michael Sohn, file)
FILE - In this Sept. 26, 2015 file photo a giant logo of the German car manufacturer Volkswagen is pictured on top of a company's factory building in Wolfsburg, Germany. Volkswagen says it is postponing release of its full-year earnings as well as its annual shareholder meeting due to open questions about its diesel emissions scandal. The company said Friday Feb. 5, 2016 it would give new dates for the earnings release, formerly slated for March 10, and for its shareholder gathering originally set for April 21. (AP Photo/Michael Sohn, file)

Volkswagen will offer generous compensation packages to the roughly 600,000 U.S. owners of diesel vehicles whose emissions are over the legal limit, Reuters reported that the head of its claims fund told a German paper.

The German car maker has still not decided whether vehicle owners will be offered cash, car buy-backs, repairs or replacement cars, Kenneth Feinberg told the Frankfurter Allgemeine Sonntagszeitung.

Feinberg previously headed the compensation funds for the Sept. 11, 2001 attacks, BP's Deepwater Horizon oil spill and General Motors' ignition switch crashes.

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