Volkswagen

VW makes $5.4 billion profit in 2016, limits executive pay

Volkswagen bounced back into the black in 2016 after suffering a loss the previous year due to the diesel emissions scandal, according to figures released by the German automaker Friday.

The company reported a net profit attributable to Volkswagen AG shareholders of 5.1 billion euros ($5.4 billion) last year compared with a net loss of almost 1.6 billion euros in 2015.

Volkswagen acknowledged in September 2015 that it had been installing engine control software in diesel vehicles to detect when cars were being tested. The software turned the emission controls off during normal driving to improve performance, but also resulted in releasing emissions more than 40 times the...

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