
VW profits plunge and deep job cuts loom amid tough Chinese competition
- VW profit and sales forecasts fell amid Chinese competition.
- Up to 100,000 jobs could be cut globally.
- Chinese sales dropped by more than 31%.
Volkswagen has reported a sharp fall in quarterly operating profit and lowered its revenue outlook, blaming weaker sales in China and intensifying competition from domestic Chinese manufacturers. The results increase pressure on the German carmaker to carry out a major restructuring programme, including plans to cut up to…







