Friday, 27 October 2017

Volkswagen diesel emissions scandal still hitting profits

Volkswagen's diesel emissions scandal has continued to hit its profits, according to the latest figures from the carmaker.

Third-quarter operating profit before costs related to the scandal was €4.3bn (£3.8bn), an increase of 15% on the same period in 2016.

However, once additional provisions in connection with the diesel issue were accounted for, operating profit was €1.7bn, 48% down on last year.

VW said there was "a lot to be done".

However, chief executive Matthias Mueller said: "Our operating business is strong, our financial position robust."

BBC          News.

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