Volkswagen, the world’s biggest car-maker, has bounced back to profitability thanks to luxury car buyers in China and Europe

Business Insider | Oct 29, 2020 at 1:00 AM
  • Volkswagen has returned to profit in the third quarter, as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the COVID-19 crisis.
  • Excluding one-time items, its third-quarter operating profit was 3.2 billion euros ($3.84 billion), down from 4.8 billion euros ($5.61 billion) a year earlier.
  • VW reported a 5.4% adjusted operating return on sales in its automotive division, rebounding from minus 5.8% in the second quarter.