Volkswagen posts a US$6.5 billion quarterly loss on China and Porsche writedowns

After-tax loss, July-September

5.8 billion euros

Volkswagen lost 5.8 billion euros (US$6.5 billion) after tax in the July-September quarter, on revenue down 6.3 per cent to 80.3 billion euros.

A 6.4 billion euro writedown on its Porsche stake added to weak demand in China, US tariffs and lower profits on electric vehicles.

Its restructuring could mean the loss of up to 100,000 jobs and four German plant closures. The chief financial officer said Volkswagen must "act quickly and decisively".

Economy · 6 d ago

Volkswagen posts a US$6.5 billion quarterly loss on China and Porsche writedowns

Volkswagen lost 5.8 billion euros (US$6.5 billion) after tax in the July-September quarter, on revenue down 6.3 per cent to 80.3 billion euros.

A 6.4 billion euro writedown on its Porsche stake added to weak demand in China, US tariffs and lower profits on electric vehicles.

Its restructuring could mean the loss of up to 100,000 jobs and four German plant closures. The chief financial officer said Volkswagen must "act quickly and decisively".

Volkswagen posts a US$6.5 billion quarterly loss on China and Porsche writedowns

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