You are here

VW slumps to first quarterly loss in at least 15 years

Wednesday, October 28, 2015 - 16:17
VolksEntrance281015.jpg
Volkswagen slumped to a third-quarter operating loss over costs related to its rigging of diesel emissions tests, its first quarterly deficit in at least 15 years.

[BERLIN] Volkswagen slumped to a third-quarter operating loss over costs related to its rigging of diesel emissions tests, its first quarterly deficit in at least 15 years.

VW's operating loss of 3.48 billion euros (S$5.36 billion) was in line with the 3.47 billion-euro loss forecast in a Reuters poll of analysts.

VW said the operating group profit will come in"significantly below" year-ago levels because of costs related to the emissions scandal.

The German group stuck to its guidance for full-year deliveries to be on a par with last year's record 10.14 million auto sales.

REUTERS