VW reaches accord with US dealers to cover losses from diesel-cheating scheme

San Francisco

VOLKSWAGEN AG has agreed to pay 652 car dealerships for their losses from the diesel-cheating scheme that has affected more than half a million cars in the US.

The carmaker will buy back unfixable used vehicles under the same terms as a buyback plan for consumers and independent dealers, lawyers for the dealerships said in a statement without disclosing the dollar value of the tentative settlement. Volkswagen said in a separate statement that it agreed to make cash payments and provide additional benefits to the dealers to resolve their claims.