Volkswagen beats forecasts with 12.1b euros net profit

[WOLFSBURG, Germany] Mammoth German carmaker Volkswagen said Thursday it had earned 12.1 billion euros (S$18.44 billion) in net profit in 2018, defying heavy charges linked to its "dieselgate" emissions cheating scandal and headwinds from tough new pollution tests.

The Wolfsburg-based group booked 3.2 billion euros of charges -- the same amount as 2017 -- to cover the continuing fallout from the 2015 admission that it manipulated millions of cars worldwide to appear less polluting, but still beat forecasts for the bottom line from analysts surveyed by Factset.

AFP