Volkswagen to pay diesel owners up to $7,000 each, report says

If $1,000 in gift cards wasn't enough to satiate irked Volkswagen diesel owners, do you think $7,000 will do the trick?

On June 28, Volkswagen will reportedly submit a plan to a U.S. district court judge proposing the German automaker pay up to $7,000 to each owner of one of its diesel-powered cars affected by dieselgate, according to Bloomberg. Additionally, it will also finance a program aimed to offset air pollution. All told, the plan would cost VW $10 billion.

However, not every owner will receive the full $7,000. Depending on the age of the vehicle, along with other factors, owners would receive cash payments between $1,000 and $7,000. Read more...