VW sees second quarter profit halved after emissions scandal

BERLIN (AP) " Volkswagen says second-quarter profits fell by more than half compared with the same period last year, before the company was hit by the emissions cheating scandal.

The German automaker says it earned 1.2 billion euros ($1.32 billion) after tax in the April-June period, compared with 2.7 billion euros in the second quarter of 2015.

Volkswagen shares fell about 1.4 percent to 134.10 euros following the announcement Thursday.

The company, whose brands also include Audi, Skoda and Porsche, had said a day earlier that global sales were up more than 5 percent in June compared with a year earlier, though deliveries in the U.S. were down significantly.

Volkswagen disclosed last September that it had been fitting diesel vehicles with special software to trick U.S. emissions tests.

This story has been automatically published from the Associated Press wire which uses US spellings

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production apcf04 at 30 Sep 2016 16:49:22 Processing Time: 655ms