Volkswagen brand profit falls on scandal effects, lower sales

July 28, 2016 7:48 AM

29 0

BERLIN Volkswagen's (VOWG_p.DE) core autos division posted lower profitability in the second quarter as costs for its diesel emissions scandal and falling sales outweighed gains from cost cuts.

First-half operating profit at the VW brand, the group's largest division by sales, plunged more than a third to 900 million euros ($998 million), leading its second-quarter operating margin to ease to 2.9 percent from 3.3 percent a year ago, VW said on Thursday.

Also read: Adobe forecasts FY18 profit above estimates, shares surge

Read more

To category page