Business · CA ·
Volkswagen warns of $11.5 billion loss centered on Porsche division
The Globe and Mail · Business
Published · Updated
- Volkswagen flagged 10 billion euros in one-offs, mostly at Porsche, deepening crisis at the world's second-largest automaker.
- Porsche has been hardest hit by U.S. tariffs and collapsing demand for foreign luxury brands in China.
- The company agreed a major transformation deal including another 50,000 job cuts and possible plant closings.
- Volkswagen has been squeezed by drastic changes in China and the United States, including U.S. import levies.
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