Volkswagen and the US Federal Government reached a partial agreement regarding the emissions cheating diesel vehicles.
"Just as importantly, consumers who were cheated by Volkswagen's deceptive advertising campaign will be able to get full and fair compensation, not only for the lost or diminished value of their car but also for the other harms that VW caused them."
Now, before too many dollar signs start popping out of people's eyeballs, the settlement must be approved by the court system which it should be and won't be absolutely finalized until at least October 2016, on the 'early' side.
The Environmental Protection Agency EPA and the California Air Resources Board CARB agreed to a $2.7 billion over a three-year period into an environmental trust to remediate damage done by excessive nitrogen dioxide.
This settlement marks a major milestone in the Dieselgate scandal which started in September 2015 when a study found that VW diesel vehicles were equipped with emissions-defeating software which could tell when an emissions testing device was hooked up and change emissions output only for the test.
Nitrogen dioxide creates harmful smog and soot which can result in exposure-based respiratory and cardiovascular health issues, and even a premature death with extreme exposure.