Volkswagen posts €5.8bil loss as Chinese competition bites
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What happened
Volkswagen warned of a €10 billion hit to its annual profit last month, driven mainly by the value of its stake in Porsche, which is also struggling in China. (EPA Images pic) FRANKFURT: German carmaker Volkswagen reported Thursday a loss of €5.8 billion (US$6.5 billion) for the third quarter, down from a loss of €1.1 billion in the same period last year, as it struggles with intense Chinese competition. (Free Malaysia Today, 15:42)
The reporting
1 report
Photo: Free Malaysia Today Free Malaysia Today·News·EN·29 Oct, 15:42 MYTVolkswagen posts €5.8bil loss as Chinese competition bites
Volkswagen warned of a €10 billion hit to its annual profit last month, driven mainly by the value of its stake in Porsche, which is also struggling in China. (EPA Images pic) FRANKFURT: German carmaker Volkswagen reported Thursday a loss of €5.8 billion (US$6.5 billion) for…
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Timeline
- DetectedFirst detected (Free Malaysia Today) source
Where it started
How it spread
- Step 1News outletsFree Malaysia Today15:42
Internet reaction
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What we know
- Covered by 1 established outlet(s): Free Malaysia Today
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