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Audi braces for fourth-quarter earnings hit over model ramp-up costs

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Audi braces for fourth-quarter earnings hit over model ramp-up costs

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BERLIN (Reuters) – Audi <NSUG.DE> is bracing for earnings to take a hit in the fourth quarter because of ramp-up costs for new vehicles including the new A6 and A7 models, Chief Financial Officer Axel Strotbek said. First-half operating profit at Volkswagen’s <VOWG_p.DE> luxury brand edged up 0.5 percent to 2.68 billion euros ($3.13 billion) from 2.66 billion even as vehicle sales, Audi said on Friday. The carmaker made no further provisions for its diesel emissions scandal in the second quarter, having set aside about 1.8 billion euros in 2015 and 2016.

(Reporting by Andreas Cremer; Editing by Maria Sheahan)
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