FRANKFURT — German carmaker Volkswagen AG said Thursday net income for the third quarter fell 86 percent as the global downturn affected demand for its cars and trucks.

Europe’s biggest automotive group by sales reported net income of 172 million euros ($253 million), down from 1.2 billion euros in the July-September period a year ago.

VW, based in Wolfsburg, said sales for the quarter fell 10.3 percent to 26 billion euros from 29 billion euros in the third quarter of 2008.

The company said full year revenue would be lower than in 2008. Rising refinancing costs and the deterioration of sales for some brands would drag on the company’s earnings. VW said it would attempt to counter the trend with cost and investment management and better efficiency.

China lifts ban on American pork

WASHINGTON — Chinese officials have agreed to lift the ban on U.S. pork imports they imposed last spring out of fear of swine flu.

The announcement, made on Thursday, is a major boost to the beleaguered U.S. pork industry, which had already been suffering from a downturn when China announced the ban in May 2009.

No date has been set for lifting the ban, but Agriculture Secretary Tom Vilsack hailed it as a breakthrough nonetheless.

GM lengthens refund program

DETROIT — General Motors says its money-back guarantee is going so well, it will extend the program through December.

The automaker launched its “May the Best Car Win” campaign in September as a way get consumers to try GM cars and trucks with minimal risk.

The program was slated to last 60 days and end Nov. 30. It will now last until Jan. 4, 2010.

The campaign includes advertisements comparing GM vehicles to those of competitors.