Volkswagen Group says third-quarter operating profit at its core VW brand plunged more than half, adding weight to management calls for cutbacks at the the automaker’s biggest division.
Operating profit at the VW brand dropped to 363 million euros ($396 million) from 801 million a year earlier, and subsidiary Audi is cutting its earning forecast due to substantial costs associated with the diesel-emissions deception.
Meanwhile, a Spanish court has ordered VW Group to compensate an Audi owner caught up in the emissions fix.
The order of a €5,000 payment will be challenged by the car maker in case it triggers a wave of similar claims it would be hard to reject.