Federal Judge Extends VW Deadline for Diesel Fix
Photo courtesy of Volkswagen.
A federal district judge has extended a deadline for Volkswagen to submit a plan to recall 600,000 diesel-powered vehicles with emissions cheat software, reports Bloomberg.
U.S. District Judge Charles Breyer in San Francisco on March 24 set a deadline of April 21 for the company to come up with a detailed plan. Breyer had previously given the company the March 24 deadline, and said "substantial progress" has been made in granting the extenton.
The cost of buying back the affected vehicles could cost $9.4 billion, according to a Bloomberg Intelligence analyst. A Kelley Blue Book analyst put the amount at $7.3 million.
“Volkswagen can't move past its diesel challenge until a solution is confirmed for all cars that don't meet current standard," said Karl Brauer, senior analyst at Kelley Blue Book. "While any fix for these vehicles will be complex and costly, every delay extends the timeframe to get past this scandal and on to rebuilding the brand."