"The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. Witter said the takeover of U.S. truck maker Navistar International Corp by Volkswagen's trucking unit Traton SE was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales
Volkswagen plans to make British luxury carmaker Bentley a subsidiary of its Audi division as it seeks economies of scale among its top-end brands, German trade publication Automobilwoche reported. Bentley, for now overseen by the head of VW's Porsche business, Oliver Blume, will from next year be part of Audi, where VW group Chief Executive Herbert Diess believes it has more potential, Automobilwoche cited company sources as saying.