2024-03-13 14:22:00
Volkswagen forecasts auto sales growth of just 3% in 2024, well below last year’s levels, amid a bleak economic outlook and growing competition, the company said Wednesday, Reuters reported March 13.
Volkswagen’s customer deliveries rose 12% to 9.24 million units in 2023.
The German automaker’s net profit from core operations increased to 5.3% in 2023 from 3.6% in 2022, with the company setting a target of 8%.
As a result, Volkswagen shares fell in price by 0.71% by 15.00 Moscow time.
Volkswagen Group in March 2022, following the start of a special military operation in Ukraine, announced that it would stop supplying cars to Russia and suspend production at its plant in Kaluga and at the site in Nizhny Novgorod. The German auto giant sold its Russian business – Volkswagen Group Rus LLC and companies controlled by it – to the Russian Art-Finance for 125 million euros.
In December 2023, it became known that eight German companies, including Volkswagen Bank (a subsidiary of the automaker), asked the German authorities to compensate them for financial damage incurred due to investments in Russia.
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