Volkswagen: 1.7bn. Minus in the third quarter

The scandal for manipulated exhaust values has bropened the Volkswagen Group for the first quarter loss for more than 20 years. The deep red numbers end a rapid record ride Jah and force the Wolfsburg as expected the caps of their annual targets. Before interest and taxes (EBIT) is a minus of around 3.5 billion euros, even under the line is the result with minus 1.7 billion euros deep red. This shared Volkswagen today with.

"We will do everything to recover lost trust," said VW Group Chief Matthias Muller. The central explanation of the billions-heavy loss is around 6.7 billion euros high randoms for the consequences of the scandal. However, in the balance sheet also a positive counterweight is: The Wolfsburgs had been separated in summer from the early partner Suzuki. By selling the held Suzuki shares, Volkswagen was able to record 1.5 billion euros as a positive special effect in the financial result and thus alleviate the diesel consequences a little.

The explanation of this that the figures in the post-tax result are not even worse, is in the peculiarity of China business at Wolfsburgers. Since Volkswagen is traveling in the realm of the center with partners, the accountants treat the profits from there only a kind of participation. Therefore, the income fell into the financial result and thus does not dive before interest and taxes. By the end of September, the proportional operating results of the Chinese joint ventures were stable at 3.8 (3.9) billion euros.

In September, the VW Group had arrested to manipulate the results for diesel trolleys in exhaust gas tests on the prudent status using software. The software detects when a car is currently being tested on the prudent and then switches the engine into a mode in which it exhibits significantly fewer nitrogen oxides.

Worldwide it is about 11 million cars of the Group brands VW cars, VW commercial vehicles, Audi, Seat and Skoda. In Germany alone, 2.4 million diesel must be accessed in the workshop. This action should begin in January. EU-wide are around 8.5 million vehicles affected. In addition to spending for backrests, rough costs are still threatened, such as lawsuits and possible compensation.

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