Volkswagen Dealerships Hopeful Over Potential Payout from Emissions Scandal

Volkswagen expected to pay $1.2 billion collectively to dealers; specific details expected end of September

Volkswagen dealers nationwide are largely striking a hopeful tone on news of the auto maker’s deal with some 650 Volkswagen franchise dealerships in the U.S. over its emissions scandal.
Volkswagen expects to pay a collective $1.2 billion to the dealers, according to a person familiar with the matter, and in addition has said it would buy back used, unfixable diesel vehicles on dealer’s lots.
“This is an enormous first step for VW to begin to repair the trust of their dealers,” said Steve Kalafer, a dealer in New Jersey.
Read more here: http://www.wsj.com/articles/volkswagen-dealerships-hopeful-over-potential-payout-from-emissions-scandal-1472242427