Volkswagen reaches $900 million deal with consumers over diesel scandal

FILE PHOTO: The logo of Volkswagen is pictured at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy Nicholson/File Photo

HAMBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) and a major German consumer group said on Friday that they had reached an 830 million euro ($902.04 million) agreement in a class action lawsuit over the carmaker’s rigging of diesel emissions tests.

The deal marks a further step in the German carmaker’s efforts to make amends after it admitted in 2015 to using illegal software to cheat U.S. diesel engine tests.

The effort has cost Volkswagen more than $30 billion in vehicle refits, fines and provisions.

In the deal announced Friday, the 830 million euros will be divided among about 260,000 members of the class action. The exact amount depends on the age and model of the owner’s car.

Nearly all U.S. owners of affected cars agreed to take part in a $25 billion settlement in 2016 in the United States, but VW has said there was no legal basis for consumers in Germany to seek compensation due to differences in law.

An initial attempt to reach the 830 million euro settlement with VZBV failed this month, for which VW blamed demands for 50 million euros in fees by lawyers representing the consumer groups.

Reporting by Jan Schwartz; Writing by Thomas Seythal and Tom Sims; Editing by Michelle Martin

Our Standards:The Thomson Reuters Trust Principles.

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