Volkswagen cuts 2024 outlook as car demand falters

FRANKFURT/BERLIN, Germany: Volkswagen has revised its annual outlook for the second time in under three months, citing weaker-than-expected performance in its passenger car division amidst growing market pressures.

The German automaker now expects a profit margin of 5.6 percent for 2024, down from the previous 6.5-7 percent forecast, with expected sales falling by 0.7 percent to 320 billion euros, reversing its