Volkswagen Slashes Guidance as Auto Industry Challenges Intensify
Provided by
Dow Jones
By Mauro Orru
Volkswagen cut its sales and profitability forecasts for the year, joining a growing list of European rivals in lowering their targets as the industry faces an increasingly bumpy transition to electric vehicles.
The German car maker said it now expects sales of around 320 billion euros ($357.68 billion) in 2024 compared with the 322.3 billion euros it reported last year as the group anticipates about 9 million vehicles will be delivered to customers, below 9.24 million deliveries recorded in 2023. The company had previously forecast an increase of up to 5% in sales and up to 3% in deliveries.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
September 27, 2024 13:06 ET (17:06 GMT)
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