Volkswagen Reaches Deal to Buy Back Cars

Volkswagen has reached a framework deal with U.S. officials in which the German automaker will offer to buy back some of the almost 600,000 diesel vehicles that were affected by an emissions cheating scandal, according to a person briefed on the matter. The company is expected to spend more than $1 billion to compensate customers who have cars fitted with sophisticated software designed to cheat emissions tests. The framework includes paying for services such as fixing the affected cars or buying them back, depending on the model year and engine type, the person told the AP. Volkswagen is expected to announce the deal Thursday during a court hearing in San Francisco and continue to negotiate how the money is allocated and distributed, the person said.