×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: EU | Germany | Earns | Volkswagen

Volkswagen Warns of Slowing Global Auto Markets

Volkswagen Warns of Slowing Global Auto Markets

Wednesday, 30 October 2019 06:38 AM EDT

FRANKFURT, Germany (AP) — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles but warned that global markets are slowing more than expected and lowered its forecast for annual sales.

After-tax profit rose to 3.98 billion euros ($4.42 billion) as revenue rose 11% to 61.42 billion. The sales margin of 7.8% exceeded the goal of 6.5-7.5%.

The Wolfsburg-based automaker said it expects "that vehicle markets will contract faster than previously anticipated in many regions of the world."

It said sales would be "on a level" with last year's record 10.8 million vehicles. Previously it had expected a slight increase. The company stuck to its profit forecast but said it would be in the lower end of its range.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles but warned that global markets are slowing more than expected and lowered its forecast for annual sales.After-tax profit rose to 3.98 billion euros ($4.42 billion) as...
EU,Germany,Earns,Volkswagen
126
2019-38-30
Wednesday, 30 October 2019 06:38 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved