The settlement would be the largest ever automotive buyback offer in U.S. history and most expensive auto industry scandal.
The government has vowed to punish executives for corporate wrongdoing. Will it follow through?
More Volkswagen, Audi and Porsche owners could face recalls of their cars.
The troubled carmaker suspects the camshaft lobe may shear off reducing engine and brake power.
Among the diesel models officials named as being in violation of U.S. laws are the Porsche Cayenne sport utility vehicle and five Audi models.
Some analysts have said the scandal could cost the German company as much as 35 billion euros ($40 billion) to cover vehicle refits, regulatory fines and lawsuits.
WASHINGTON (AP) — Volkswagen plans to withdraw applications seeking U.S. emissions certifications for its 2016 model Jettas
It is often all too easy to distance ourselves and corporate executives from the wreckage. It's clear that lack of enforcement is a problem in the U.S. and elsewhere, too. Unless we beef up government oversight, it's up to the consumers -- and we simply can't be trusted.
It was right under everyone's nose.
Porsche chief Matthias Müller is the new man in charge.