Volkswagen to Buy Back or Fix Diesels, Compensate Owners and Environment

Embattled automaker Volkswagen reached a long-awaited settlement deal in principle with regulators this morning in a California courtroom.

Before presiding judge Charles Breyer, Volkswagen agreed to buy back afflicted diesel models from U.S. buyers, while compensating their owners from a newly created fund. The automaker would accept early termination on leased models, and fix some vehicles if requested by owners.

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