Volkswagen Warns Auto Industry Downturn Is Worsening

📆 10/30/2019 12:30 PM
📰 WSJ

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Volkswagen, the world’s biggest auto maker, maintains its outlook as it sells more sport-utility vehicles

BERLIN—Volkswagen AG warned Wednesday that the downturn in the global car market was worsening, but maintained its outlook for profit and revenue as the world’s biggest auto maker by sales continued to sell more higher-priced sport-utility vehicles.

Volkswagen’s gloomy outlook comes amid a spate of profit revisions and downbeat assessments of the industry by leading manufacturers such as General Motors Co., Ford Motor Co. and Renault SA, who cited trade conflicts, Brexit and economic slowdown in China, the U.S. and Europe....

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