Second profit warning exposes decline of VW

Quick Summary:

BERLIN: Volkswagen AG’s second profit warning in three months makes one thing clear: Europe’s biggest automaker is in decline.

All three major German carmakers – Volkswagen, Mercedes-Benz Group AG and BMW AG – have now warned about their profit this month.

The namesake passenger-car marque and the commercial vehicles unit are performing below expectations, and brands such as Skoda and Seat are threatened by a “deterioration in the macroeconomic environment,” the company said.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaGermanySweden

Topics: EV Volkswagen Profit warning /Business/Business News Auto

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-01 @ 00:00:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 658 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22811819

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Official Website: thestar.com.my

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News Last Updated: 27 minutes ago

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