Volkswagen reduced 2024 sales and profit forecasts due to electric vehicle transition challenges and industry competition.

Volkswagen has lowered its 2024 sales and profitability forecasts, expecting around €320 billion ($357.68 billion) in sales and 9 million vehicle deliveries, down from previous projections. The company anticipates an operating profit of about €18 billion, with a return on sales of 5.6%, below earlier estimates. This adjustment reflects increased challenges in the auto industry, particularly in the shift to electric vehicles and intensified competition.

September 27, 2024
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