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Volkswagen to Admit Guilt in Emissions Cheating Scandal

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News video: Volkswagen to Admit Guilt in Emissions Cheating ScandalVW plans to settle civil and criminal investigations into an emissions cheating scandal by admitting guilt and paying fines.

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Transcript: Volkswagen to Admit Guilt in Emissions Cheating Scandal

Volkswagen said it will  admit guilt  to settle investigations into the automaker's diesel emissions scandal.  Software intended to cheat emissions tests was installed in about  11 million  VW cars worldwide.  The company will dedicate just under  $15 billion  to pay for repairs or buy back cars, and to promote zero-emissions vehicles and environmental mitigation.  SEE MORE: Volkswagen Will Shell Out Billions Over Its Emissions Cheating Scandal Volkswagen will also pay  $4.3 billion  in fines.  The revelation has led to one employee's arrest.

Another pleaded guilty to charges of fraud.  Sales for VW in the U.S. were down in 2016 by 2.6 percent, but sales worldwide rose by 3.8 percent. 

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