SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Significantly reduced profit for Volkswagen

» Published: 30 October 2024

Significantly reduced profit for Volkswagen
Photo: Michael Probst/AP/TT

The German automotive giant Volkswagen's profitability sank to its lowest level since the pandemic, according to its report for the third quarter.

The car giant reports an operating profit of 2.86 billion euros for the third quarter – a decrease of 42 percent compared to the same period last year.

The automotive industry in Germany is under great pressure. As recently as in September, Volkswagen lowered its forecast for the second time this year due to weak demand for passenger cars.

Earlier in the week, the company's trade union warned that Volkswagen wants to close at least three factories in Germany, which it claims risks "tens of thousands of jobs". According to the union, the car manufacturer also wants to implement wage cuts of 10 percent.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Cross-stop for Harley Davidson
1 MIN READ

Cross-stop for Harley Davidson

Food prices haunt inflation
2 MIN READ

Food prices haunt inflation

Disney+ loses viewers
1 MIN READ

Disney+ loses viewers

Apple risks Competition Probe in China
2 MIN READ

Apple risks Competition Probe in China

The EU tightens its tone against Temu and Shein
1 MIN READ

The EU tightens its tone against Temu and Shein

Record for Norwegian arms exports
1 MIN READ

Record for Norwegian arms exports

Some recovery on the Stockholm Stock Exchange
1 MIN READ

Some recovery on the Stockholm Stock Exchange

Car Giants' Merger on the Brink of Collapse
1 MIN READ

Car Giants' Merger on the Brink of Collapse

Still slow for the service sector
1 MIN READ

Still slow for the service sector

Husqvarna reduces dividend
1 MIN READ

Husqvarna reduces dividend

Assa Abloy increases the dividend
1 MIN READ

Assa Abloy increases the dividend

Alfa Laval increases dividend
1 MIN READ

Alfa Laval increases dividend

Novo Nordisk exceeds expectations: "Outstanding"
2 MIN READ

Novo Nordisk exceeds expectations: "Outstanding"

Ica CEO: "Continued strong focus on price"
3 MIN READ

Ica CEO: "Continued strong focus on price"

Handelsbanken announces extra dividend
1 MIN READ

Handelsbanken announces extra dividend

Cautious stock trading in China after Trump tariffs
1 MIN READ

Cautious stock trading in China after Trump tariffs

USA Blocks Packages from China
1 MIN READ

USA Blocks Packages from China

Google's stock plummeted after quarterly report
1 MIN READ

Google's stock plummeted after quarterly report

Spotify surged on the US stock exchange
1 MIN READ

Spotify surged on the US stock exchange

Spotify is about to break the billion barrier - "feeling confident"
2 MIN READ

Spotify is about to break the billion barrier - "feeling confident"