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Audi profit collapses by 91%

The operating profit of Volkswagen subsidiary Audi plummeted by 91% to 106 million euros in the third quarter. The reasons cited by CFO Jürgen Rittersberger are the 16% drop in sales of the Audi brand to 407,000 cars sold, the "very intense price competition in Europe and China" and, above all, the provisions for the closure of the Audi plant in Brussels amounting to 1.2 billion euros.

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