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VW sees provisions sufficient for DOJ civil agreement - source

A man is seen next to the logo of Volkswagen at the booth of Shanghai Volkswagen, a joint venture between SAIC Motor and Volkswagen Group, during the Auto China 2016 auto show in Beijing, China April 26, 2016. REUTERS/Kim Kyung-Hoon

HAMBURG (Reuters) - Volkswagen believes it will not need to raise provisions of 16.2 billion euros (12 billion pounds) it has already made for its diesel-emissions cheating, as it moves closer to a civil settlement with the United States Department of Justice, a source familiar with the matter said on Tuesday.

"We know the sum we are facing as of today," the source said, ahead of a U.S. federal court hearing at which the two sides are expected to report "significant progress" towards reaching a final agreement by late June, according to two sources briefed on the matter.

In April, Volkswagen agreed a framework settlement with authorities in the United States to buy back or potentially fix about half a million cars, after admitting it masked the level of pollution from its cars using cheating software, plunging the carmaker to a 4.1 billion euros operating loss for 2015.

The Wolfsburg-based company could still face further costs, including from a DoJ investigation that could lead to criminal charges, and potential class-action suits.

(Reporting by Jan Schwartz, writing by Edward Taylor; Editing by Georgina Prodhan)