Volkswagen cuts sales outlook amid slump in China

U.K.-based Neil Winton covers the European Auto industry.

Volkswagen’s profits crash as crisis deepens

Volkswagen’s operating profit fell by 9.5% to €3.5bn in the second quarter, below analysts’ estimates of a small increase to €3.9bn, as Blume battles with unions to push through a radical restructuring programme.

Volkswagen reported weaker-than-expected second-quarter profits on Friday and scrapped hope for sales revenue growth in 2026, as the German auto giant lays the groundwork for a radical overhaul of the business.