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VW's EMISSION SCANDAL * Germany: Plunged profit 19%
* Wolfsburg - Volkswagen first-quarter profit plunges 19% as emission scandal hits sales
(Video by nighthawk01 - Apr 11, 2016: Volkswagen fooled the world with a scam to rig pollution tests. Millions of customers are still driving around in tainted cars. Richard Westcott investigates how the company used clever computer software to hide just how dirty their cars are and reveals how our cities have become clouded by an invisible killer)
-- Volkswsagen saw its first-quarter profit plunge by almost a fifth as the embattled German carmaker battles with the fallout from the emission scandal that has impacted around 11 million cars worldwide... The group said on Tuesday (31 May) that its pre-tax profit for the first three months of the year plunged 19.3% compared to the corresponding period in 2015 to £2.4bn ($3.5bn, €3.15bn), while revenue fell 3.4% year-on-year to £37.8bn... Earlier this month, the car manufacturer, indicated it was yet to quantify the whole cost of the emissions scandal after the publication of the results of an investigation it commissioned from a US law firm was postponed... The German car giant, which has set aside £12.7bn to cover the costs related to the emissions-manipulation scandal, warned sales revenue for the current financial year is forecast to be 5% lower than in 2015...
Wolfsburg, Germany - IBTimes, by Dan Cancian - May 31, 2016
Labels: truckmakers news Germany
posted by Unknown @ 3:00 AM
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