Volkswagen cuts guidance again as demand softens

Volkswagen cuts guidance again as demand softens

) slashed its sales and profitability forecasts for the year as softer vehicle demand and sluggish global economic growth put the brakes on performance.

The company attributed the weaker sales outlook to soft demand for its core Volkswagen Passenger Cars, brand Volkswagen Commercial Vehicles and Tech. Components, which have fallen short of original expectations, and a deterioration in the macroeconomic environment, were also hurting demand, the company added.

Volkswagen also cut itws net cash flow forecast of its automotive division to to around €2B, compared with a prior forecast for €2.5B to €4.5B.Scan QR code to install app

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