VW Profit Plunges 37% Amidst Global Uncertainty
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Volkswagen reported a 37% drop in first-quarter operating profit to €2.9 billion ($3.3 billion), significantly below analyst expectations of €4 billion. The decline is attributed to US tariffs and global economic volatility. Despite this, sales revenue rose 2.8% to €77.6 billion due to increased sales outside China. The company expects lower-than-forecast returns for the year due to ongoing global uncertainty.
Volkswagen reported a 37% drop in first-quarter operating profit to €2.9 billion ($3.3 billion), significantly below analyst expectations of €4 billion. The decline is attributed to US tariffs and global economic volatility. Despite this, sales revenue rose 2.8% to €77.6 billion due to increased sales outside China. The company expects lower-than-forecast returns for the year due to ongoing global uncertainty.
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