newsweek.ro/auto/6-miliarde-eur-pierdere-record-gi

Volkswagen reported a record loss of €5.86 billion in Q3, marking its worst financial performance since the Dieselgate scandal. The company faces significant challenges, including massive write-downs at Porsche, declining sales in China, and a tough restructuring plan. Revenue fell by 6.3% to €75.3 billion, with production and deliveries down nearly 15%. Operational profit for the first nine months dropped to just €100 million, pressured by extraordinary expenses of €8.7 billion. The management plans to cut around 100,000 jobs and possibly close up to four factories in Germany, facing strong opposition from unions. The automotive industry in Europe is experiencing broader challenges, with rising electric vehicle production costs impacting profitability. Competitors like BMW and Mercedes-Benz have also lowered their financial forecasts, while Volkswagen aims to restore profitability to 8-10% by 2030 through strict cost reductions.