VW Q3 results: 2024 proving even tougher than feared

Volkswagen Group began the year by forecasting tougher conditions and in July it trimmed its full-year margin forecast following an 11.4% drop in first-half operating profit. However, a 42% year-on-year fall in operating profit in Q3 has prompted a much sharper cut in the full-year forecast and the company, currently in wage negotiations with its domestic unions, says it underlines the need for significant cost-cutting and efficiency improvements.