​Volkswagen Cuts Profit Forecast Again Amid Sliding Car Demand – Tyler Durden

Volkswagen Cuts Profit Forecast Again Amid Sliding Car Demand Volkswagen AG lowered its profitability forecast for the second time this year due to sliding passenger vehicle demand, highlighting the bumpy transition to electric vehicles. Additionally, Germany’s economy is faltering, if not already in recession, and the pain has been widespread across the automotive sector. The economic slowdown in China has further pressured vehicle sales for luxury German automakers.  The German car maker, known for producing Audi, Bentley, Cupra, Jetta, Lamborghini, Porsche, SEAT, Škoda, and Volkswagen brands, announced Friday that its forecast for operating return on sales – a closely watched measure of profitability – had been slashed to…  — Continue at ZeroHedge News : Read More