VW lost $1.8 billion in Q2 but forecasts an annual profit

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VW lost $1.8 billion in Q2 but forecasts an annual profit

Filed under: Earnings/Financials,Volkswagen

Carmaker Volkswagen recorded an after-tax loss of 1.54 billion euros ($1.81 billion) in the second quarter as the pandemic shut down auto plants and closed dealerships. The company sold 35% fewer cars and cut back its proposed dividend but said it had been able to safeguard its cash reserves and would make an operating profit for the full year. Chief Financial Officer Frank Witter said that “the first half of 2020 was one of the most challenging in the history of our company due to the COVID-1 Continue reading VW lost $1.8 billion in Q2 but forecasts an annual profit VW lost $1.8 billion in Q2 but forecasts an annual profit originally appeared on Autoblog on Thu, 30 Jul 2020 08:55:00 EDT. Please see our terms for use of feeds. Permalink | Email this | Comments

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