German carmaker Audi’s net profit in the third quarter of this year has fallen more than € 1 billion due to the decline in sales and sales due to diesel scandal.
According to the company’s statement, net profit in the third quarter of this year was only 110m euros, down 90 percent from last year’s profit. The company had a profit of 1 billion 261 million euros last year.
There were also losses in production in the third quarter due to difficulties in adapting to the new emission testing procedures in the German automotive industry.
The Munich Prosecutor’s Office has foreseen a total of 800m euros in fines for Audi, taking an administrative decision on the grounds that there have been deviations from the regulatory requirements of some V6 and V8 diesel vehicles manufactured or distributed by Audi AG. Audi AG had agreed to pay the fine.
Actually, we know Audi is a good carmaker in Europe and in the world. But if these punishments will continue, Audi could be in a trouble.