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Volkswagen cuts 2024 outlook on macroeconomic headwinds

09/27/2024

Less than a minute

2024.09.27 12:57

© Reuters. FILE PHOTO: A Volkswagen logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo

FRANKFURT (Reuters) – Volkswagen (ETR:) on Friday cut its annual outlook, citing a weaker-than-expected performance of its passenger car division as well as a deteriorating macroeconomic environment.

Europe’s largest carmaker now expects a profit margin of around 5.6% in 2024, down from 6.5-7% previously.

09/27/2024

Less than a minute

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