Volkswagen Q2 net profit down 57% at 1.15b euros
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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 fallout behind it. But risks remain from other legal cases dragging on in the US and Germany, where prosecutors have broadened their probe.
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