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Volkswagen Q2 net profit down 57% at 1.15b euros

Published Thu, Jul 28, 2016 · 09:50 PM
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Frankfurt

SCANDAL-STRUCK car maker Volkswagen said on Thursday that its profits fell for the second quarter by 57 per cent to 1.15 billion euros (S$1.7 billion).

Profits were weighed down by almost 2.5 billion euros of special items, mostly related to 2015's diesel emissions cheating scandal. The group obtained provisional approval in July for a US$14.7 billion settlement to US buyers of some Audi and Volkswagen diesel vehicles, putting one important element of the…

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