SAN FRANCISCO (AP) – A federal judge approved the largest auto-scandal settlement in U.S. history Tuesday, giving nearly a half-million Volkswagen owners and leaseholders the choice between selling their cars back or having them repaired so they don’t cheat on emissions tests and spew excess pollution.
U.S. District Judge Charles Breyer said the nearly $15 billion deal “adequately and fairly” compensates consumers and gets the polluting vehicles off the road as soon as possible.
The German automaker acknowledged last year that about 475,000 Volkswagens and Audis with 2-liter, four-cylinder diesel engines were programmed to cheat on emissions tests.
Under the agreement, owners can choose to have Volkswagen buy back their vehicle regardless of its condition for the full trade-in price on Sept. 18, 2015, when the scandal broke, or pay for repairs. Either way, Volkswagen also will pay owners $5,100 to $10,000, depending on the age of the car and whether the owner had it prior to Sept. 18 of last year.
Volkswagen has agreed to spend up to $10 billion compensating consumers and could start buying back the cars as early as next month. Regulators have not approved any fixes.