Volkswagen to compensate U.S. dealers

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UNDATED (CNN) -- Volkswagen has agreed to compensate 652 U.S. dealers for cars on their lots that turned out to be rigged to cheat emissions tests.

The deal announced Thursday is likely worth tens of millions of dollars. The exact amount of the settlement was not released, but VW says the deal will cover all past, current and future claims of loss by franchisers. The automaker says it will pay up within 18 months.

Since it was revealed last year that millions of diesel Volkswagen cars worldwide had been fixed to beat emissions tests, VW has been hit with lawsuits and legal probes. In April, VW revealed it has set aside $18,200,000,000 to deal with the scandal.

The deal with U.S. dealers still has to be approved by a federal judge.



 
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