Volkswagen cuts 2024 outlook as car demand falters
Publishing timestamp: 2024-09-27 20:42:49
Summary
Volkswagen cuts annual outlook for the second time in less than three months due to weaker-than-expected performance, pressure from China's weakening demand, and ongoing talks with powerful union. The global economy, shortage of skilled labor, and high energy prices are also contributing to challenges faced by Germany's export-oriented economy. The fate of the auto industry and pressure from China are global issues impacting Europe's car elite.
Sentiment: NEGATIVE
Tickers: VOW3-DE,
Keywords: business news, volkswagen ag, transportation, breaking news: business,
Source: https://www.cnbc.com/2024/09/27/volkswagen-cuts-2024-outlook-as-car-demand-falters.html