VW slumps to first quarterly loss in at least 15 years

Wibbitz Top Stories 2015-10-28

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Volkswagen slumped to a third-quarter operating loss over costs related to its rigging of diesel emissions tests, its first quarterly deficit in at least 15 years. VW's operating loss of 3.48 billion euros was in line with the 3.47 billion-euro loss forecast in a Reuters poll of analysts. VW said the operating group profit will come in "significantly below" year-ago levels because of costs related to the emissions scandal. The German group stuck to its guidance for full-year deliveries to be on a par with last year's record 10.14 million auto sales.

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