Currently reading: Volkswagen Group profits down €3bn; VW brand operating on 2% margin

Group says "urgent" cost cutting needed at main brand to balance books

The Volkswagen Group's pre-tax profits were down €3.3 billion (£2.75bn) in the first nine months of 2024 - its lowest since the Covid pandemic – driven by difficulties at its Volkswagen brand, where “painful decisions” need to be made.

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