The Guardian· Europe
Mass job cuts loom at VW as profits fall steeply on China sales slump
Carmaker expects to sell 3% fewer vehicles this year as it pushes through a programme that could eliminate 100,000 rolesVolkswagen has reported a steep fall in profits and cut its revenue forecast amid a sales slump in China, as the German carmaker pushes through a brutal cost-cutting programme that includes axeing up to 100,000 jobs.VW said it expects sales revenue to fall by up to 3% this year,
Published Friday, 24 July 2026 at 10:34
Carmaker expects to sell 3% fewer vehicles this year as it pushes through a programme that could eliminate 100,000 rolesVolkswagen has reported a steep fall in profits and cut its revenue forecast amid a sales slump in China, as the German carmaker pushes through a brutal cost-cutting programme that includes axeing up to 100,000 jobs.VW said it expects sales revenue to fall by up to 3% this year, a reversal of a previous forecast for a 3% increase on last year’s €321.9bn (£275.3bn), because of a sales slump in the highly competitive Chinese market. Continue reading...
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