Volkswagen brand profit falls on scandal effects, lower sales

July 28, 2016 7:48 AM

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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: EU takes legal action against Germany, UK over Volkswagen scandal

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