VW and the EPA have reached a deal earlier this month that amounts to $14.7 billion in fines and penalties for the automaker.
Volkswagen was caught red handed installing software in the diesel engines to cheat on emission tests September of 2015. These nearly 500,000 affected vehicles produced much higher emissions than advertised. This instance is considered the largest case of marketing fraud in automotive history.
10 of the 14.7 billion dollars are to be used for consumer compensation with the remainder to be used in pollution aide. Eligible vehicle owners will have the option to either sell their vehicle back to Volkswagen at a reasonable price or have their vehicles repaired. Either option comes with an additional cash offer between $5,100-$10,000 depending on model and year of the vehicle.
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