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VW Group swings to Q2 loss, cuts dividend

from Automotive News Canada

VW Group swings to Q2 loss, cuts dividend Automotive News Canada Volkswagen Group cut its dividend after losing 2.4 billion euros ($3.7 billion) in the second quarter, when the COVID-19 pandemic shuttered showrooms and factories in key markets. Revenue slumped by more than a third to 41.1 billion euros ($64 billion) in the three months through June, roughly in line with analyst estimates compiled by Bloomberg. The second-quarter loss compared with a profit of 5.13 billion euros ($8.3 billion) a year earlier. READ MORE

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