Volkswagen Returns to Third-Quarter Profit Despite Emissions Scandal

Europe's biggest carmaker Volkswagen swung back into the black in the third quarter, despite the group's battle to emerge from its long-running emissions scandal.

    German-based VW posted a 2.27-billion-euro about (2.48-billion-dollar) net profit in the three months to the end of September after a 1.73-billion-euro loss in the same period in 2015, according to the German News Agency (dpa).

    Analysts had expected a 2.33-billion-euro profit. "Despite major challenges and the negative impact of the diesel issue, the Volkswagen Group remains on a solid financial footing," VW Chief Financial Officer Frank Witter said. 

    The results come just over a year after the carmaker admitted that it had cheated on emissions tests on more than 11 million diesel vehicles around the world, plunging the group into the biggest crisis in its corporate history.