UPDATE 2-VW Q3 earnings halve, sticks to year outlook

Newswire

(Adds analyst comment, detail) By Nick Tattersall BERLIN, Oct 30 (Reuters) - Volkswagen AG , Europe's largest carmaker, posted a sharp drop in third-quarter earnings on Wednesday but comforted investors by sticking to its full-year outlook as cost cuts began to bear fruit. Weak demand in its key European, U.S. and South American markets, an ageing product range and unfavourable exchange rates meant pre-tax profit in the quarter almost halved compared with a year ago to 711 million ...

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