Lates News

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