GgoogleSE first seen 2 d ago, last 2 d ago, peak #1
Volkswagen posts huge loss on Porsche writedown and China slump
Original: volkswagen
Volkswagen has reported a swing to a loss of around €5.9 billion, driven by a multi-billion-euro writedown of its Porsche brand and a continued slump in sales in China. The German carmaker is pressing ahead with restructuring as it faces weak demand and mounting competitive pressure. Financial outlets worldwide are covering the scale of the loss and what it means for the company's turnaround plans.
Why now: Volkswagen just reported a multi-billion-euro loss, a major negative surprise for Europe's largest carmaker.
VolkswagenPorscheReutersFinancial TimesChina
Evidence
- Volkswagen slumps deeper into the red on Porsche writedown · Reuters
- Volkswagen Presses Ahead With Restructuring as Headwinds Mount · WSJ
- Volkswagen Swings to Loss After Writedown, China Market Slump · Bloomberg
- Volkswagen losses surge to €5.9bn as China sales slump · Financial Times
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