Volkswagen Reports Lower Q2 Profit and Revises Down Full-Year Revenue Forecast
German automaker Volkswagen reported a weaker-than-expected second-quarter operating profit of €3.5 billion, down nearly 10% year-over-year due to the discontinuation of its ID.4 electric vehicle in the U.S. and negative mix effects. The company revised its full-year sales revenue forecast for 2026 from +0%-+3% growth to -3% to flat compared with the previous year.
Topics: automotive electric vehicles (EVs) job cuts profitability