VW takes new €2.5 billion hit for modifying diesel vehicles in US

VW takes new €2.5 billion hit for modifying diesel vehicles in US
Volkswagen said it will publish third-quarter results on October 27. (Reuters)
Updated 29 September 2017

VW takes new €2.5 billion hit for modifying diesel vehicles in US

VW takes new €2.5 billion hit for modifying diesel vehicles in US

BERLIN: Volkswagen will take a hit of around €2.5 billion (SR11 billion) to its third-quarter results because a program to buy back or retrofit diesel engine cars in North America is proving more complex and time-consuming than expected, it said on Friday.
Its shares dropped after the statement and were down 2.8 percent at 0724 GMT.
Volkswagen said it will publish third-quarter results on October 27.