The Volkswagen Group has filed its worst quarterly performance since the height of the "Dieselgate" scandal in 2015. Share prices climbed in response, however, perhaps because the bad news was so well signposted.

The German Automaker posts its biggest operating loss since the Dieselgate Scandal; Porsche write-down and Chinese competition to blame.

Volkswagen tumbled further into the red in the third quarter, signalling a deepening crisis at the world's second-largest carmaker, which is battling seismic challenges across key markets as it embarks on a major restructuring.

Volkswagen has posted a $6.5 billion after-tax loss for the July-September quarter.

Carmaker expects to sell 3% fewer vehicles this year as it pushes through a programme that could eliminate 100,000 roles Volkswagen has reported a steep fall in profits and cut its revenue forecast amid a sales slump in China, as the German carmaker pushes through a brutal cost-cutting programme that includes axeing up to 100,000 jobs. VW said it expects sales revenue to fall by up to 3% this year, a reversal of a previous forecast for a 3% increase on last year’s €321.9bn (£275.3bn), because of a sales slump in the highly competitive Chinese market. Continue reading...