Volkswagen Reaches Deal in Emissions Scandal

(DETROIT) — A person briefed on the matter says Volkswagen has reached an agreement with the U.S. government to spend just over $1 billion to compensate owners of diesel-powered cars that cheat on emissions tests.

The person says it's an agreement in principle that does not include final details of how much each owner will get. Those figures have yet to be worked out. Some owners would have the option of getting their cars repaired or having Volkswagen buy them back.