VW’s finance arm takes $590 million hit, braces for more pain

VW Group’s financial-services unit, hampered by rising unemployment in the U.S., boosted provisions for credit and residual-value risks by about 500 million euros ($590 million) in the first six months and warned the fallout from the pandemic could worsen in the second half.

source https://www.autonews.com/automakers-suppliers/vws-finance-arm-takes-590-million-hit-braces-more-pain