Volkswagen Cuts Medium-Term Outlook For Operating Profit, Sales
The Wolfsburg-based company also cut its forecast for medium-term sales growth to 20% from more than 25%.
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Highlights
German carmaker Volkswagen on Monday cut its medium-term outlook for operating profit as the industry is being hit by a global downturn.
VW now expects operating profit before special items to grow by at least 25% in the 2016-2020 period, down from a previous forecast of more than 30%, slides for a presentation showed.
The Wolfsburg-based company also cut its forecast for medium-term sales growth to 20% from more than 25%.
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