AP: VW will shell out $10.2 billion to settle emissions claims

The scandal has already cost the company $18.2 billion, at least.


Volkswagen is set to pay $10.2 billion to settle claims in the emissions-dodging scandal, the AP reports. Last year, Volkswagen was caught using software that disguised the true emissions output of 600,000 of its diesel vehicles sold since 2008, and the scandal may affect as many as 11 million automobiles worldwide. So far, the boondoggle has cost Volkswagen an estimated $18.2 billion and it led to the resignation of CEO Martin Winterkorn, among other executives.

Reports surfaced in April that Volkswagen would buy back roughly 500,000 affected vehicles, plus offer extra cash to their owners from an apology fund totaling $1 billion.