Volkswagen to withdraw from U.S. diesel market: Handelsblatt | Reuters

Volkswagen AG's (VOWG_p.DE) diesel vehicles would not make a return to the U.S. market after the emissions scandal is settled, German daily Handelsblatt reported, citing the automaker's car division chief, Herbert Diess. ('s largest carmaker in September 2015 admitted using sophisticated secret software in its cars to cheat exhaust emissions tests, with millions of vehicles worldwide affected.The cheating allowed Volkswagen's U.S. vehicles sold since 2009 to emit up to 40 times legally allowable pollution levels.

The German automaker will pay more than $15 billion to settle claims by nearly 500,000 U.S. customers and government regulators over the emissions scandal.

(Reporting by Divya Grover in Bengaluru; Editing by Maju Samuel)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Published Date: Nov 23, 2016 01:30 AM | Updated Date: Nov 23, 2016 01:30 AM

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