Volkswagen reports a 5.8 billion euro loss due to increasing competition from Chinese automakers
Volkswagen reported a net loss of 5.82 billion euros in the third quarter. A write-down on Porsche's value amounted to approximately 6.4 billion euros.
- Volkswagen reported a net loss of 5.82 billion euros in the third quarter.
- A write-down on Porsche's value amounted to approximately 6.4 billion euros.
- Volkswagen is struggling to keep pace with competition from China.
- Volkswagen plans to cut 120,000 jobs across the group by 2030.
- Volkswagen revealed the restructuring would cost €31 billion.
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