VW is looking at compensating car owners
WASHINGTON - Volkswagen is looking at compensating owners of diesel-powered cars that have devices set up to cheat on U.S. emissions tests.
U.S. CEO Michael Horn tells lawmakers that the company may pay customers for a loss in resale values because of the scandal.
He says the company doesn't know how much the cheating will cost Volkswagen. The cost depends on fines from government agencies, how much it costs to fix the cars and the price tag for any compensation to customers.
VW has set aside $7.3 billion to pay for the scandal, but Horn says he's not sure that will be enough.
Under questioning from Rep. Jan Schakowsky, D-Ill., Horn says the company isn't considering loaner cars because the U.S. government says the cheating diesels are safe to drive.
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