Volkswagen posts its largest loss in over a decade on a China slump and Porsche writedown
Summary
Volkswagen has posted a $6.5 billion after-tax loss for the July-September quarter, The Philadelphia Inquirer and ABC News reported on Thursday 29 October, headlining that a China slump and a Porsche writedown weigh on the bottom line, while Fortune put the quarterly loss at $6.8 billion, citing slumping China demand, Trump tariffs and the Porsche write-down. The NY Times called it the German carmaker's largest loss in over a decade, and Fortune quoted CFO Arno Antlitz as saying that the results so far this year mean that 'we cannot afford to lose any time and must act quickly and decisively.'
Latest: Volkswagen posted a $6.5 billion after-tax loss for the July-September quarter, The Philadelphia Inquirer and ABC News reported, Fortune putting it at $6.8 billion and The NY Times calling it the German carmaker's largest loss in over a decade, as the company warned it 'must act quickly and decisively' to cut costs.
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How it unfolded
Thursday 29 October
Volkswagen posted a $6.5 billion after-tax loss for the July-September quarter, The Philadelphia Inquirer and ABC News reported, Fortune putting it at $6.8 billion and The NY Times calling it the German carmaker's largest loss in over a decade, as the company warned it 'must act quickly and decisively' to cut costs.
- 07:42ABC News Volkswagen posts $6.5 billion quarterly loss as China slump, Porsche writedown weigh on bottom line
- 07:34The NY Times Volkswagen ‘Must Act Quickly’ After Largest Loss in Over a Decade
- 04:44The Philadelphia Inquirer Volkswagen posts $6.5 billion quarterly loss as China slump, Porsche writedown weigh on bottom line
- 10:55Fortune SubscribersVolkswagen posts $6.8 billion quarterly loss as slumping China demand, Trump tariffs, and Porsche write-down weigh on earnings