Volkswagen Reveals Big Losses

Volkswagen revealing big losses as the fall-out bites from the car-maker’s cheating scandal.

FOX News Radio’s Simon Owen reports from the European bureau:

Volkswagen posting its first quarterly loss in at least 15 years… $3.8-billion between July and September. The company has set aside $7-billion as it prepares to face fines around the world for rigging the results of emissions tests, as exposed by U.S. regulators.

VW also admitting that $7-billion is likely just a start. However, some analysts saying it’s still a robust balance sheet, suggesting Volkswagen should be able to cope with the costs of penalties, refits, and lawsuits.

Shares in the company rising 3% on the news.

In London, Simon Owen, FOX News Radio.