VW to begin diesel recall in January, should wrap up by year end

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Beleaguered German car manufacturer Volkswagen will begin the largest recall in its history for vehicles that have been affected by the diesel emissions test scandal. The recall will begin in the new year once German authorities have approved the company's plans to fix the cars, according the The Wall Street Journal. The recall is expected to be complete by the end of 2016.

In an interview with German newspaper Frankfurter Allgemeine Zeitung, new Volkswagen CEO Matthias Müller said that while the company hopes to fix all affected European cars by the end of 2016, it is still waiting for approval from the Environmental Protection Agency before the same recall can happen in the US. A software update would work for most cars, but other vehicles would require new fuel injection equipment and catalytic converters, he added.

As many as 11 million diesel cars worldwide have been equipped with software allegedly used to cheat emissions tests. Volkswagen faces a mountain of costs and damage claims in addition to the recall, following an investigation by the US environmental regulator last month. The company has set aside €6.5 billion ($7.27 billion) to cover costs as a result of the scandal.

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