'Dieselgate' costs choke Volkswagen profits

Net profits tumbled in the third quarter at Volkswagen as the world's biggest carmaker booked higher-than-expected charges related to its years-long emissions cheating scandal.

VW reported net profit attributable to shareholders down 53.4 per cent year-on-year, at 1.06 billion euros (USD 1.23 billion), after it booked 2.6 billion euros of additional charges for refitting diesel cars rigged to cheat emissions tests in the United States.