Volkswagen expects full-year revenue squeeze after quarterly profit slump
Blume reportedly said the company had been unable to confirm alternative uses for four German factories previously threatened with closure. These refer to Volkswagen's plants in Hanover, Zwickau, Emden, and the group's Audi facility in Neckarsulm. Shares of Volkswagen are down nearly 30% year-to-date.
- ▪Blume reportedly said the company had been unable to confirm alternative uses for four German factories previously threatened with closure.
- ▪These refer to Volkswagen's plants in Hanover, Zwickau, Emden, and the group's Audi facility in Neckarsulm.
- ▪Shares of Volkswagen are down nearly 30% year-to-date.
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German auto giant Volkswagen on Friday reported weaker-than-expected second-quarter profit, citing the discontinuation of its top electric vehicle in the U.S. and negative mix effects, as it revised down its sales forecast for 2026.Europe's biggest carmaker posted an operating profit of 3.5 billion euros ($3.98 billion) for the April to June period, down nearly 10% from a year ago and missing expectations of 4.3 billion euros, according to an LSEG-compiled consensus. The company also flagged it expects sales revenue in 2026 to develop within a range of -3 to 0% compared with the previous year, versus a previous forecast of 0 to 3%.The results come shortly after the company confirmed it is looking to cut up to 100,000 jobs, twice as many as previously stated, as it seeks to counter a…
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