Volkswagen posts its largest quarterly loss in a decade due to Porsche write-down
Volkswagen Group reported an operating loss of €5.86 billion for the third quarter — its worst result since 2015. The main cause is a €6.4 billion write-down of Porsche assets. The group is continuing a program to cut around 100,000 jobs and reduce capacity, and the CFO has called for the restructuring to be accelerated.
Otabek Yusupov