VW may buy back 115,000 cars in U.S., report says

January 7, 2016 at 10:59 a.m. | Updated January 7, 2016 at 10:59 a.m.

by Wire Service

Volkswagen Passats are parked in a lot at Village Volkswagen on Tuesday, Sept. 22, 2015, in Chattanooga. Volkswagen has halted sales of 2014 and 2015 diesel Passats and certain other diesel vehicles after the EPA announced Friday that it would order Volkswagen to recall nearly 500,000 vehicles in the U.S. because they were equipped with software that allowed them to evade emissions testing.
Volkswagen Passats are parked in a lot at Village Volkswagen on Tuesday, Sept. 22, 2015, in Chattanooga. Volkswagen has halted sales of 2014 and 2015 diesel Passats and certain other diesel vehicles after the EPA announced Friday that it would order Volkswagen to recall nearly 500,000 vehicles in the U.S. because they were equipped with software that allowed them to evade emissions testing.

German automaker Volkswagen AG assumes it will have to buy back about 115,000 cars in the United States as a result of the emissions scandal, Reuters reported that a newspaper said today.

Without citing its sources, Germany's daily Sueddeutsche Zeitung said the company expected it would have to either refund the purchase price of a fifth of the diesel vehicles affected or offer a new car at a significant discount.

Volkswagen expects that the rest of the vehicles will need major refits, incurring significant costs for parts and a long stay at the garage as parts of the exhaust must be reconstructed and approved, the newspaper reported.

Volkswagen could not be immediately reached for comment.

The U.S. Environmental Protection Agency said on Wednesday that "recall discussions with the company have not produced an acceptable way forward. EPA continues to insist that VW develops effective, appropriate remedies as expeditiously as possible."

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