$15 billion Volkswagen emissions settlement approved

Under the settlement, owners of the affected cars have until September 1, 2018, to decide whether to have the car fixed or repurchased

US District Judge Charles Breyer, on Tuesday, approved a nearly $15 billion court settlement of most claims against Volkswagen for its emissions-cheating scandal.

Volkswagen, last year, admitted that about 475,000 VWs and Audis with 2-liter four-cylinder diesel engines were programmed to cheat on emissions tests.

Under the settlement, owners of the affected cars have until September 1, 2018, to decide whether to have the car fixed or repurchased.

In addition to having their cars bought back, owners can each get cash payments between $5,100 and $10,000.

The settlement releases legal claims from most of the 2-liter VW owners, but it doesn't affect larger 3-liter six-cylinder diesels, which also cheated on tests.

Photograph: Joshua Lott/Reuters