Volkswagen Returns To Profit But Slips Behind Rivals

Volkswagen Returns To Profit But Slips Behind Rivals

A Volkswagen ID.3 electric car inside one of the twin towers used as storage at the Volkswagen ... [+] factory in Wolfsburg, Germany. Photo by Sean Gallup/Getty Images)



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For an auto manufacturer to report any profit at all in this coronavirus inflicted world has to be impressive, but Volkswagen disappointed investors with its latest financial report which analysts said showed it was recovering at a slower pace than its rivals.

Investors were nervous after VW lost approaching $1 billion in the virus-damaged first half of 2020, but it reported a return to profitability in the third quarter, thanks to an improved performance from its massive stake in China, and its harsh cost cutting policy.

VW announced Thursday it posted an operating profit