Volkswagen Posts Deepest Loss in a Decade
Volkswagen reported a severe operating loss in the third quarter driven by a major Porsche writedown. The automaker faces mounting restructuring pressures across key markets.
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VOLKSWAGEN AG posted an operating loss of €5.9 billion ($6.6 billion) in the third quarter, driven by an €8 billion writedown on its stake in Porsche. It is the carmaker's largest quarterly deficit since late 2015. The European automaker is battling fierce competition in China and high transition costs.
