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VW profits 'respectable' despite cheat scandal
By EUobserver
Profit on sales of VW-branded cars fell 86% year-on-year in the first quarter of 2016, the German group said Tuesday amid fallout from its cheating on EU emissions standards. Overall group profit climbed 3.4% because of better results for other brands, such as Skoda, and one-off currency trades. Group chief Mueller said the figures were "respectable" in "difficult conditions". The firm has set aside €16bn to pay for cheat-related costs.