The German car giant Volkswagen is reporting a sharply reduced profit for 2024. The company's operating profit amounted to 19.1 billion euros, a decrease of 15 percent compared to the previous year according to the annual report.
In total, they sold 9 million cars, also a decrease compared to 2024 (9.4 million vehicles). Volkswagen, which has been one of several car manufacturers facing major challenges lately, does not see a dramatic improvement for 2025 either.
The company's forecast is an operating margin of 5.5-6.5 percent, which can be compared to 5.9 percent the previous year. This is in connection with the customs conflict between the USA and neighboring countries Mexico and Canada, as Volkswagen has a large production in Mexico intended for the American market.
