German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.
Operating profit fell to 2.86 billion euros ($3.1 billion), while third quarter sales revenues slipped 0.5% year on year to around 78.5 billion euros.
Vehicle sales fell 8.3% in the third quarter of 2024 compared to the same time period a year earlier, Volkswagen said.
Net liquidity across the Volkswagen Group stood at negative 160.6 billion euros at the end of September 2024, it said.
Operating profit between January and September of this year was 21% lower on an annual basis.
Persons:
Arno Antlitz
Organizations:
Volkswagen, Volkswagen Group
Locations:
Germany