Volkswagen has reported its first quarterly loss for at least 15 years after setting aside €6.7bn (£4.8bn) to cover the costs of the scandal, which saw 11 million of its vehicles fitted with rogue software.
After its self-imposed deductions, the company was left with a €2.52bn pre-tax loss for the third quarter of the year. However, Volkswagen says it is still predicting a rise of up to 4% in sales revenue for the year.
Speaking at today’s (28 October) nine-month review conference call, the brand’s CEO Matthias Müller emphasised that the business has to “change its mindset” to embrace a culture of Read full story ›
Source: Marketing Week
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