Lates News

Volkswagen's first quarter profit dropped significantly by 40% due to rising manufacturing costs eroding profit margins, and the prospect of U.S. tariff measures casting a shadow over this German car manufacturer. The company stated on Wednesday that its pre-tax profit for the three months ending in March was 3.1 billion euros (3.5 billion dollars), lower than the 5.1 billion euros in the same period of the previous year. The group's operating profit margin fell from 6% to 3.7%.