Volkswagen

Berlin (Gurpreet Singh): Europe’s largest automaker, Volkswagen Group, has reported a quarterly net loss exceeding €1 billion, marking its first quarterly loss since 2020. The downturn is largely attributed to U.S. import tariffs and significant write-downs in its luxury brand division, Porsche, highlighting escalating pressures on the global auto industry amid rising costs and the transition to electric vehicles. Volkswagen’s operating result for the third quarter plummeted to –€1.3 billion, compared with a profit of €2.8 billion in the same period last year. Company officials cited U.S. tariffs potentially totaling €5 billion by year’s end, and one-off impairments tied to…