VW to Compensate US Customers

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By Jacob Maslow

The head of the claims fund investigating the VW (ETR:VOW3) emissions scandal in the US has reported that the auto manufacturer will compensate over 600,000 diesel vehicle owners whose emissions are over the legal limit.

Details on whether the customers will be awarded cash, buy-backs or replacements cars have still not been decided, but will be made known as soon as a decision is reached, Kenneth Feinberg, the fund head, reported.

After struggling to reach an exact figure on how much the scandal and reparations would cost, VW suspended their annual shareholders meeting and delayed the publication of its official 2015 results. VW is also still struggling to win an approval from US lawmakers on a fix for the emissions debacle which erupted last year.

Due to the uncertainty surrounding the emissions scandal, VW shares have declined by 26% in the past year. Despite this, major investors such as Norway’s sovereign wealth fund say they are still interested in maintaining their share of the German auto-marker.

So another chapter in the emissions scandal unfolds, and still VW are no closer to a solution. When will the agony end for VW?

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