Volkswagen Q3 Profit Plummets Over 40% Amid Sales Decline 🚗

Volkswagen's third-quarter operating profit fell more than 40%, impacted by increased fixed costs and restructuring efforts. Volkswagen's sales revenue dropped slightly, with vehicle sales down from the previous year's third quarter. Amid challenging market conditions, Volkswagen cut its 2024 profit outlook, targeting a nearly 5% margin and a slight sales decline. Upcoming labor negotiations address cost-cutting plans and possible workforce reductions at German plants.