Volkswagen would be chugging along just fine if it weren’t for a massively damaging diesel scandal that continues to chip away at its quarterly profits.
That seems to be the message from the German carmaker’s first-half figures released Thursday morning. Profits may be down but, despite everything, the underlying picture is of a carmaker that remains one of the largest and most stable in the world.
Volkswagen recorded a sharp drop in profits over the first half of this year as it continues to deal with the fallout of the damaging Dieselgate scandal. VW admitted in September that it manipulated the engines of 11 million diesel cars worldwide to cheat emissions tests.