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by zaroth
2479 days ago
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That’s non-GAAP. Google says VW 2018 profit was actually. €13.92 billion, on revenue of €235 billion. Most of that difference was due to €3 billion in fines for lying about the level of toxic emissions of their Diesel engines. Apparently they feel like that shouldn’t fully count against them in their annual report. [1] Maybe a company which has demonstrated it is willing to commit fraud to coverup its level of pollution shouldn’t be able to call the fines “one-time” charges, since the likelihood of recidivism is high. VW shipped 10.8 million vehicles to Tesla’s 245k. So to be sure, Tesla is currently about 2% the size of VW. [1] - https://annualreport2018.volkswagenag.com/ |
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