21 Hrs
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الاقتصادية
Volkswagen cuts profit outlook for 2026
During 2026, Volkswagen significantly reduced its profit forecasts, now expecting an profit margin of no more than 1%, down from previous projections of between 4% and 5.5%. This comes after an extraordinary loss of $11.5 billion related to its stake in Porsche, along with cost reductions and the impact of a weak Chinese market on sales and profits. The company's shares fell by 5.6%. The decline occurs amidst pressures from restructuring efforts, challenges in the Chinese market, increased competition from Chinese manufacturers, rising costs, and risks potentially endangering up to 50,000 jobs.
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