The German automaker, facing ongoing challenges, had initially expected to increase deliveries by 3% compared to the 9.2 million vehicles sold last year.
However, after the stock market closed on Friday, Volkswagen announced it now expects to sell only around 9 million vehicles this year. The company also revised down its revenue projections, now forecasting €320 billion, down from an expected 5% increase on last year’s €322 billion.
CEO Oliver Blume also anticipates lower profitability, with operating profit expected to reach €18 billion and an operating margin of about 5.6%, compared to the previous forecast of 6.5% to 7%.
Volkswagen’s shares dropped 3.2% in after-hours trading.
