Volkswagen loses £1.39bn in second quarter

VW emission tests rigging

Volkswagen has recorded an after-tax loss of 1.54 billion euro (£1.39 billion) in the second quarter as the coronavirus pandemic shut down factories and closed dealerships.

The company sold 35% fewer cars and cut back its proposed dividend but said it had been able to safeguard its cash reserves and would make an operating profit for the full year.