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VW cuts 2013 profit forecast
- Germany: Sunday, February 24 - 2013 at 04:32
Volkswagen has cut down its forecast for another record year in 2013, in what analysts said was sign that Europe's biggest carmaker is beginning to feel the impact of Europe's shrinking auto markets, Reuters has reported. VW's goal for 2013 is now to match the record €11.5bn operating profit for 2012 it reported in results published on Friday. "We're not completely immune to the intense competition and the impact this has on business," VW said. "While we shall see positive effects from our attractive model range and strong market position, there will also be increasingly stiff competition in a challenging market environment."
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