Volkswagen profit plunges 42% in third quarter amid sweeping overhaul plans
German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.
German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.
Operating profit fell to 2.86 billion euros ($3.1 billion), while third quarter sales revenues slipped 0.5% year on year to around 78.5 billion euros.
Vehicle sales fell 8.3% in the third quarter of 2024 compared to the same time period a year earlier, Volkswagen said.
Net liquidity across the Volkswagen Group stood at negative 160.6 billion euros at the end of September 2024, it said. The company's net liquidity stood at negative 147.4 billion euros at the end of 2023.
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