VW Group hit by $940 million H1 loss

Volkswagen reported a first-half operating loss on Thursday after suffering a 27 percent drop in vehicle deliveries due to the coronavirus pandemic, which forced the automaker to slash its dividend.

The automaker posted an adjusted operating loss of 800 million euros ($940 million) in the January to June period, down from a 10 billion euro adjusted operating profit in the year-earlier period, and said it will cut its dividend for 2019.