Volkswagen’s third quarter financial disclosure revealed that US tariffs on imported vehicles cost the company 800 billion euros ($925 million), contributing to a total tariff hit of 2.1 billion euros ($2.44 billion) for the first nine months of the year. CFO and COO Arno Antlitz stated that increased trading tariffs could burden the company by up to 5 billion EUR ($5.8 billion) on a full-year basis, impacting units like Porsche. Despite a 2.3% increase in Q3 revenue to 80.3 billion euros, Volkswagen reported an operating loss of 1.3 billion euros due to tariffs and other charges.

Read more at Yahoo Finance: Volkswagen stung by nearly $1B tariff hit, projects $5.8B import tax for the year