Volkswagen posted a $6.5 billion after-tax loss for the July-September quarter as large one-time charges piled on top of weak demand in China, U.S. tariffs and lower profits from electric vehicles.

it seeks to cut costs through a restructuring that could mean the loss of up to 100,000 jobs and the closure of four German plants. 

China was once a key profit center for Volkswagen, but now the company faces declining demand for cars there on top of fierce price competition from local carmakers. U.S. tariffs, or import taxes, have also weighed on profits, as has the increasing share of electric vehicles, which earn less per vehicle than internal combustion models.

https://www.sfgate.com/news/world/article/volkswagen-posts-6-5-billion-quarterly-loss-as-22499985.php

unreal how only a decade ago, VW was the biggest and best major manufacturer