As anticipated yesterday, Volkswagen has posted its first quarterly loss in more than 15 years.

As anticipated yesterday, Volkswagen has posted its first quarterly loss in more than 15 years.

The huge TDI emissions betrayal is being labeled by VAG simply as a “diesel issue” that has affected earnings so far by €6.7 billion which is 0.2€ billion more than what the company original put aside. As a result of the scandal, the Volkswagen Group has posted a quarterly loss of €3.48 billion which is pretty close to the estimation made yesterday by analysts who anticipated a €3.26 billion loss. The situation was almost the exact opposite in the third quarter of 2014 when VW posted a €3.23 billion profit.

Last month, VW Group sales went down by 1.5% compared to September 2014 while deliveries in Q3 dropped by 3.4% to 2.39 million units which is why Toyota is once again on top of the sales rakings with 7.49M units through September whereas VW shifted 7.43M units and General Motors came in third with 7.2M vehicles.

Taking into account the scandal involving 11 million cars with EA189 TDI engines is far from being over, Volkswagen’s financial shape will likely worsen in the following months once the fines will start arriving. In addition, the decreasing sales trend will probably continue since the magnitude of the deceit is significant and some people will likely decide to go for another brand outside the VW empire.

Be part of something big