26 Oct, 23

Volkswagen’s Q3 Earnings Slump Amid Supply Chain Woes

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Volkswagen Group has said it “cannot be satisfied” with its profitability, as it missed third quarter targets due to hedging losses and supply chain disruption. Profits declined seven percent in the first nine months of the year, to sit at €16.2bn (£14.1bn). The German carmaker attributed the development to “negative valuation effects” from commodity hedging, which led to a €2.5bn loss in the third quarter, and lowered its full-year profit margin forecast. That was despite sales volumes rising eight percent…

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