VW Q3 pre-tax profit down 48 percent

Newswire

FRANKFURT, Oct 30 (Reuters) - Volkswagen AG said on Wednesday its third quarter pre-tax profit dropped 48 percent to 711 million euros ($699.8 million), missing market expectations. A Reuters poll of 22 analysts had forecast third quarter pre-tax to be 952 million euros, in a range of estimates from 745 million euros to 1.140 billion euros. The company earlier reported sharply lower nine-month earnings but stuck to its 2002 profit forecast. Europe's largest carmaker is suffering from ...

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