The Atlanta Journal-Constitution
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Volkswagen posts $6.5 billion quarterly loss as China slump, Porsche writedown weigh on bottom line
Volkswagen has posted a $6.5 billion after-tax loss for the July-September quarter. The company faces challenges like weak demand in China, U.S. tariffs, and lower profits from electric vehicles. The results, announced Thursday, highlight the need for cost-cutting measures, which could lead to the loss of up to 100,000 jobs and the closure of four German plants. Sales revenue decreased by 6.3% to 80.3 billion euros. Earnings also suffered from a 6.4 billion euro reduction in the value of Volkswa