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Volkswagen 3Q net loss of $1.83 billion on scandal charges
Hit from 6.7 billion euros in set-asides for recalls and fines
28 October, 09:57
(ANSA-AP) - FRANKFURT - Volkswagen AG is reporting a loss of 1.67 billion euros ($1.83 billion) in the third quarter as earnings took a hit from 6.7 billion euros in set-asides for recalls and fines connected to cars rigged to evade U.S. diesel emissions testing.
Volkswagen had already announced the charges, so market analysts expected a loss for the quarter. The company's result beat analyst expectations, while sales revenue rose 5.3 percent to 51.5 billion euros. (ANSA-AP).
