Volkswagen, the German auto group, has revised down its sales forecast for 2026, now expecting a decline of up to 3% after its operating profit slumped in the second quarter. The company had previously forecast sales growth of between 0 and 3% this year.
Profit Slump
The group reported a lower-than-forecast operating profit of €3.5 billion ($3.98 billion) in the April-to-June period, down 9.5% year on year. CEO Oliver Blume said planned restructuring measures, including a proposal to cut 100,000 jobs, would be the group’s most comprehensive overhaul yet.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
