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VW SCANDAL: Manufacturer reports a loss for the third quarter of the year

Time 6 years ago

THE Volkswagen emissions scandal has led to the manufacturer reporting a loss for the third quarter of the year.

The German car maker reported an operating loss of 3.5 billion euros (£2.5 billion).

As reported extensively by Car Dealer, last month, the company admitted installing software designed to cheat diesel emissions tests in 11 million vehicles worldwide, including almost 1.2 million in the UK. And the scandal shows no sign of abating any time soon.

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An investigation was launched and a new chief executive and chairman were appointed after the initial story broke.

VW would have made a profit of 3.2 billion euros (£2.3 billion) for the third quarter in normal circumstances.

The group has set aside 6.7 billion euros (£4.8 billion) to help it cope with the fallout from the controversy.

Chief executive Matthias Muller said: ‘The figures show the core strength of the Volkswagen Group on the one hand, while on the other, the initial impact of the current situation is becoming clear.

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‘We will do everything in our power to win back the trust we have lost.’

MORE: Government was warned over emissions in 2009

MORE: How are VW dealers coping?

MORE: New rating helps car buyers calculate real-world emissions

On SuperUnleaded.com: Time For Volkswagen Dealer to Rethink Its Slogan

Dave Brown

Dave, production editor on Car Dealer Magazine, is a journalist with more than 30 years' experience in the worlds of newspapers, magazines and public relations.

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