Volkswagen' s profitability is at its lowest since the start of the pandemic, with operating margin falling to 3.6% in the third quarter, down from 6.2% a year earlier. Sales fell by 8% to 2.1 million units.

Cost-cutting measures are underway, including the closure of three plants in Germany and wage negotiations with unions. This compares with a margin of 4.7% for Mercedes and 17% for Tesla. Volkswagen's sales in North America rose by 4%, but fell by 1% in Western Europe and by 12% in China.

In view of these figures, Volkswagen's management is insisting on the urgent need for significant cost reductions.

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