Hyperdrive
VW’s Second Profit Warning Exposes a Carmaker in Decline
- German manufacturer expects to sell fewer vehicles this year
- Bungled EV shift and China slump among VW’s many challenges
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Volkswagen AG’s second profit warning in three months makes one thing clear: Europe’s biggest automaker is in decline.
The German manufacturer on Friday slashed expectations for revenue, profit and cash flow due to waning demand for its cars. The company now expects to deliver fewer vehicles this year than in 2023 — its fourth annual sales slump in five years.