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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources