Volkswagen Nets $1.5 Billion Loss in 2015

Posted by: Xavier Kwan onApril 25th, 2016

vw tdi loss

Volkswagen Group CEO Matthias Muller said, “Were it not for the sizable provisions we made for all repercussions of the emissions issue that are now quantifiable, we would be reporting on yet another successful year overall.” Well that’s not much of a strong statement coming from a company caught up in a scandal. Well I’d have to agree, if Volkswagen didn’t cheat on emissions, they probably would be better off. But they did, and they are now reporting a loss of $1.5 billion for the 2015 fiscal year versus a $12.4 billion net profit from the year before.

Much of the loss is a result of a large amount of money to the tune of $18.2 billion has been allocated to cover anticipated repair costs, fines, and legal expenses. Analysts were initially predicting that the total loss for the 2015 year would have exceeded $18.2 billion.



Like / Share This Post




Tags: , , ,




Terms of Use | Privacy Policy | Advertise with Us | International | About AOL
© 2018 AOL Canada All Rights Reserved



Beyond Media, Inc.

77 queries in 0.228 seconds.