Volkswagen's billions make company well-equipped for emissions scandal
- 8 years ago
Despite being rocked by a scandal that saw the company cheat on emissions tests, German automaker Volkswagen showed that it can weather the economic storm. After its net profit fell 19 percent in the first three months of 2016, the company reported it had bulked up on its cash reserves, leaving it equipped to deal with recalls and fines. The automotive division was sitting on 26 billion euros in net liquidity, up 5 billion from a year ago.