Fuel Woes Hit Volkswagen and Suzuki Motors
Profit at Volkswagen AG’s namesake brand crumbled 86 percent in the first quarter, highlighting the challenge the carmaker faces in emerging from the nearly nine-month-old emissions cheating scandal. Operating profit at the VW nameplate dropped to 73 million euros ($81 million) from 514 million euros last year, Europe’s biggest carmaker said in a statement. That gave the marque an operating margin of 0.3 percent, far short of a mid-term goal of 6 percent. Suzuki Motor Corp.’s minicar sales fell 18 percent in Japan this month, after the automaker disclosed using improper methods to test the fuel economy of more than 2.1 million vehicles. Frost & Sullivan Analyst Natalie Sauber discusses the news with Bloomberg's Mark Barton on "The Pulse."
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