Volkswagen lowers its 2019 sales outlook as global demand for cars cools
) lowered its full-year sales outlook on Wednesday, warning of slowing demand even as nine-month adjusted operating profit jumped 11.2% on increased demand for SUVs as well as Skoda and Porsche cars.
“Despite the gain in market share, the Volkswagen Group anticipates that vehicle markets will contract faster than previously anticipated in many regions of the world,” it said. Revenue for its passenger cars division is still expected to rise 5% this year and the company reiterated that it expects an operating profit margin for the passenger cars division and the group to be in the range of 6.5% to 7.5% for the full year.
Volkswagen said special items from legal risks, caused by the 2015 diesel emissions cheating scandal, had fallen to 1.3 billion euros from 2.4 billion euros in the same period last year.
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