Volkswagen: Predicts that operating profit will fall to the lower end of the annual forecast range.

Volkswagen said on Wednesday that it expects operating profit, net cash flow, and net liquidity to decrease to the lower end of the annual forecast range, due to increased trade barriers, intensified competition, and emission regulations. The company stated that in the first quarter, electric vehicle sales in Europe more than doubled, impacting its profit margin, indicating that traditional car manufacturers are struggling to replicate the high profit levels of the combustion engine era in the production of electric cars. Chief Financial Officer Arno Antlitz said in a statement, "We need to ensure a competitive cost structure while offering strong automotive products in order to maintain success in this rapidly changing world."