Volkswagen has offered to buy back nearly half a million cars in the US in what could be the world’s biggest auto repurchase deal, as the German carmaker sought to draw a line under its emissions scandal.
The final terms of a deal with US regulators are still being negotiated, including the scale of the compensation for US car owners and the costs to VW, but are expected to run into billions of dollars.
It emerged in September that VW had installed test-cheating defeat devices in up to 11m diesel cars globally that served to understate their emissions of harmful nitrogen oxides, or NOX.
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