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Business

VW's multi-billion dollar U.S. settlement

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Opening Sequence

Business

VW's multi-billion dollar U.S. settlement

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COMING UP:VW's multi-billion dollar U.S. settlement

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Transcript

00:00:01
>> A multibillion dollar fine and a guilty plea from Volkswagen as it tries to restore its tarnished global brand. The German carmaker confirming it's reached a draft settlement in the US over its 2015 diesel emission scandal, negotiating a $4.3 billion draft settlement with US regulators. And planning to plead guilty to criminal misconduct.
00:00:22
That can come as early as Wednesday. VW says along with the fine, it's diesel cost will exceed the nearly 18.2 billion Euros it's set aside to handle the problem. The emissions scandal already making headlines this week when VW executive Oliver Schmidt appeared in court in Miami. Charged with fraud and conspiracy by not disclosing a cheating device used to rig US diesel emissions tests.
00:00:44
Numerous other court cases loom. VW facing unresolved lawsuits from US investors in about 20 US states. The bumpy road continuing in the UK with the law firm on the prowl for compensation for British drivers. The scandal seemingly not worrying buyers though, VW group, announcing Tuesday, record sales in 2016.