Struggling car giant: These are the reasons for Volkswagen's billion-euro loss
Billions in write-offs on Porsche, weak China business and lower margins for electric cars: Several developments are spoiling Volkswagen's figures. What's behind the loss.
Volkswagen is heading towards its first loss year since the diesel scandal. The company reported a loss of €5.82 billion in the third quarter, resulting in a nine-month loss of €2.72 billion. The loss is partly due to book losses, but also a decline in sales, with the company expecting to deliver around 8 million vehicles worldwide this year.
Despite a strong demand for electric vehicles, particularly in Europe, the company's profit is under pressure due to lower margins on electric vehicles compared to combustion engine vehicles.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
