Volkswagen has bad news. The car firm expects less profit in the year 2026. The new forecast is only 1 percent. Before, VW wanted up to 5 percent.
There are many reasons for the trouble. People buy fewer cars in China. The business in China drops by 20 percent. The partner firm Porsche also makes trouble. VW must write off money there. Porsche is worth less now.
Many buyers want electric cars now. VW earns less money with these cars. The batteries for electric cars cost much money. The firm also has high costs for change. VW cuts jobs and wants to sell a plant.
The news has bad results at the stock market. The stock of Volkswagen falls fast. It loses 6 percent in value. VW is the biggest loser in the index. Trouble in the Middle East brings more worry.
