Automaker: Volkswagen cuts forecast – share price falls
The struggling Wolfsburg-based group expects a significantly lower sales margin for the current year. The parent company Porsche SE is also revising its forecast downwards.
Volkswagen has cut its forecast for the current year, citing ongoing market weakness in China, rising demand for electric cars, a billion-euro write-down on its Porsche subsidiary, and costs associated with a corporate restructuring. The company now expects a sales return of 1%, down from the previously forecast 4.0-5.5%. Volkswagen's sales are expected to be around €315 billion, €7 billion less than the previous year. The company's shares fell by up to 7.5% on Friday, their largest daily loss since 2022.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
