Germany: Volkswagen suffers first loss in 15 years

ANKARA

German automaker Volkswagen suffered its first loss in 15 years in the third quarter, in the wake of the scandal caused by its tampering with emissions devices.

In a statement Wednesday, the company said it lost €3.48 billion ($3.84 billion), down from a profit of €3.2 billion ($3.5 billion) for the same period in the previous year.

Volkswagen attributed the loss largely to its need to pay out €6.7 billion ($7.4 billion) for costs in replacing emissions devices in millions of its vehicles.