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An expensive course correction at subsidiary Porsche dealt Volkswagen a hefty blow in the third quarter, resulting in a 1.3-billion-euro ($1.52 billion) operating loss and piling billions more in costs on top of pressure from U.S. tariffs.

Volkswagen booked 4.7 billion euros in charges due to Porsche's strategy reversal on electric vehicles in the first nine months, while U.S. import tariffs were expected to cost Europe's biggest carmaker up to 5 billion euros this year, the company said on Thursday.

"Those effects will continue to persist – and that is why we must rigorously implement the performance programs in place, push forward efficiency measures and develop new approaches," CFO Arno An

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