Tags: EU | Germany | Earns | Volkswagen

VW Sees Second Quarter Profit Halved after Emissions Scandal

VW Sees Second Quarter Profit Halved after Emissions Scandal

Thursday, 28 July 2016 04:51 AM

BERLIN (AP) — Volkswagen says second-quarter profits fell by more than half compared with the same period last year, before the company was hit by the emissions cheating scandal.

The German automaker says it earned 1.2 billion euros ($1.32 billion) after tax in the April-June period, compared with 2.7 billion euros in the second quarter of 2015.

Volkswagen shares fell about 1.4 percent to 134.10 euros following the announcement Thursday.

The company, whose brands also include Audi, Skoda and Porsche, had said a day earlier that global sales were up more than 5 percent in June compared with a year earlier, though deliveries in the U.S. were down significantly.

Volkswagen disclosed last September that it had been fitting diesel vehicles with special software to trick U.S. emissions tests.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
Volkswagen says second-quarter profits fell by more than half compared with the same period last year, before the company was hit by the emissions cheating scandal.The German automaker says it earned 1.2 billion euros ($1.32 billion) after tax in the April-June period,...
EU,Germany,Earns,Volkswagen
127
2016-51-28
Thursday, 28 July 2016 04:51 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved