BERLIN, July 24 (Reuters) – Volkswagen revised down its sales forecast for 2026 on Friday, now expecting a decline of up to 3%, after its operating profit slumped in the second quarter, dragged by tariffs and intense competition from China.
The group had previously forecast sales growth of between 0 and 3% this year.
The German auto group, which includes subsidiaries Porsche and Audi, reported a lower-than-forecast operating profit of €3.5 billion ($3.98 billion) in the April-to-June period, down 9.5% year on year.
CEO Oliver Blume said planned restructuring measures, including a proposal to cut 100,000 jobs, would be the group’s most comprehensive overhaul yet.
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(Reporting by Rachel More, Editing by Miranda Murray)
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