Volkswagen has abandoned its expectation of revenue growth this year, lowering its outlook on Friday as the German automaker faces mounting pressure from tariffs and intensifying competition from Chinese rivals. <\/p>\n
The revised forecast accompanied the company\u2019s second-quarter financial results, which showed a 9.5% decline in profit, News.Az<\/a> reports, citing Reuters<\/a>.<\/p>\n CEO Oliver Blume is pressing ahead with a sweeping restructuring plan, including a proposal to cut 100,000 jobs, aimed at improving the competitiveness of the world\u2019s second-largest automaker.<\/p>\n Volkswagen<\/a> now expects sales revenue to decline by as much as 3% in 2026, compared with its previous forecast of up to 3% growth.<\/p>\n The company maintained its operating margin forecast at between 4.0% and 5.5%, an improvement from last year\u2019s 2.8%.<\/p>\n Shares in Volkswagen fell around 3% following the announcement.<\/p>\n The German automotive group, which owns brands including Porsche and Audi, reported an operating profit of \u20ac3.5 billion ($3.98 billion) for the April-June quarter.<\/p>\n Analysts had expected a slight improvement compared with the same period last year, according to a Visible Alpha poll.<\/p>\n