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Volkswagen cuts medium-term outlook for operating profit, sales

Europe Materials 18 November 2019 14:42
German carmaker Volkswagen on Monday cut its medium-term outlook for operating profit as the industry is being hit by a global downturn
Volkswagen cuts medium-term outlook for operating profit, sales

German carmaker Volkswagen on Monday cut its medium-term outlook for operating profit as the industry is being hit by a global downturn, Trend with reference to Reuters reports.

VW now expects operating profit before special items to grow by at least 25% in the 2016-2020 period, down from a previous forecast of more than 30%, slides for a presentation showed.

The Wolfsburg-based company also cut its forecast for medium-term sales growth to 20% from more than 25%.

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