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VW's Audi says emissions, Takata costs weigh down profitability
July 29, 2016 / 7:26 AM / a year ago

VW's Audi says emissions, Takata costs weigh down profitability

BERLIN, July 29 (Reuters) - Audi expects profitability this year to drop slightly below its 8-10 percent target range because of provisions for the diesel emissions scandal and possible recalls of cars fitted with Takata Corp airbags.

Operating profit at Volkswagen’s luxury division fell 9 percent to 2.67 billion euros ($2.96 billion) before special items in the first half, causing the operating margin to ease to 8.8 percent from 9.8 percent a year earlier, Audi said on Friday.

Results in the January-to-June period were burdened by 265 million euros of special items, which were evenly split between costs for the emissions manipulations and potentially faulty Takata airbags.

$1 = 0.9012 euros Reporting by Andreas Cremer; Editing by Maria Sheahan

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