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Global Business News

The Economic Times

Global Business / The Economic Times

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Volkswagen scraps revenue growth forecast as tariffs, China weigh

Volkswagen now expects sales revenue to decline by up to three percent this year. The company announced a radical overhaul to counter costly tariffs and competition. Second-quarter results showed a significant profit slump, prompting a restructuring plan. This plan includes a proposed reduction of approximately 100,000 jobs across the group. The German auto giant aims to improve its cost competitiveness in challenging markets.

24 Jul 2026 11:58 am