It's been more than a year since news broke that Volkswagen had installed emissions-cheating software on its TDI models, and yet it's still not entirely behind us. The automaker recently agreed to a $14.7 billion settlement, but that didn't include cars with the 3.0-liter V6 engine. Today, that's been fixed.
that Volkswagen has reached an agreement with U.S. regulators to either repair or buy back nearly 80,000 cars with its cheating V6. The agreement involves VW repairing at least 60,000 affected vehicles and offering a buyback for the remaining 20,000. A separate, more complicated fix will be available for those older cars, as well.
While this is good news for owners who have been waiting to find out what happens to their cars, it's possibly even better news for Volkswagen. Since it won't be forced to buy back all 80,000 vehicles, it stands to potentially save billions of dollars. The buyback offers will also likely be less than what the automaker is offering 2.0-liter owners.
But this agreement isn't necessarily the end of the scandal for Volkswagen. It still has to work out an agreement with the Justice Department to resolve both a criminal investigation and a civil lawsuit. There are also currently 19 states taking legal action against the automaker.
So while things appear headed in the right direction, VW isn't out of the woods just yet.