Volkswagen returns to profit as pandemic recovery continues

Third quarter 'a relief' after painful first half, VW CFO says

Volkswagen said on Thursday it had returned to profitability in the third quarter, helped by a surge in demand for premium cars, despite an overall drop in global vehicle deliveries during the COVID-19 pandemic.

The German multi-brand car and truck maker said that excluding one-time items, its third-quarter operating profit came in at 3.2 billion euros ($3.78 billion), compared with 4.8 billion euros in the year-ago period.