Volkswagen posts €5.8 billion third-quarter loss as Chinese competition bites
Europe's largest carmaker says restructuring will cost €31 billion and plans 120,000 job cuts by 2030
Volkswagen reported a €5.8 billion loss for the third quarter on Thursday, widening from a €1.1 billion loss a year earlier as Europe's largest carmaker wrestles with intense competition from China and the costs of its electric-vehicle transition.