Volkswagen is reportedly preparing to buy back vehicles sold in the European Union with understated CO2 emissions figures.
Earlier this month, Volkswagen admitted that up to 800,000 vehicles were sold with "implausible" CO2 emission figures. These "irregularities" were discovered as the company carried out internal investigations related to the dieselgate affair.
Potentially affected vehicles are currently undergoing laboratory tests to determine their true CO2 output levels according to EU guidelines and with German government oversight.
According the newspaper, the company expects that current testing will reduce the number of affected cars below 800,000. Additionally, Volkswagen hopes that many of those still caught up will fall underneath the 10 percent threshold.
So far, the company has set aside 2 billion euros ($3 billion) for this latest CO2 issue. Some of that money will be used by the company to compensate EU governments that collect annual road taxes based on average CO2 output or fuel consumption.
Volkswagen has also budgeted 6.7 billion euros ($10.1 billion) pay for the legal, remediation and other costs related to the dieselgate scandal, which involves the company installing software, which can cheat its way past NOx emission tests, on around 11 million diesel cars.Last week, Volkswagen America announced a "goodwill package"