Volkswagen faces continued cost-cutting beyond Q2 2024; Q2 EBIT fell to €5.46bn from €5.6bn a year ago.

Volkswagen faces continued cost-cutting beyond Q2 2024 as its second-quarter operating profit declines. The carmaker is amid a €10bn cost-saving drive, with plans for up to €4bn in cuts by 2024. Q2 EBIT fell to €5.46bn from €5.6bn a year ago. Restructuring and supply chain issues impacted returns, while the company focuses on revamping its global EV lineup to defend market share in China, Europe, and grow in the US.

August 01, 2024
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