Volkswagen shares slip as it considers Brussels plant closure on weak EV demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 10 2024
0mins
Source: CNBC
- Volkswagen Profit Warning: Volkswagen shares dropped after issuing a profit warning, reducing the forecast for its operating return on sales.
- Potential Audi Plant Closure: Volkswagen is considering closing an Audi plant in Brussels due to weak demand for the Audi Q8 e-tron line.
- Financial Impact: The potential closure or restructuring of the Audi plant could result in a hit of up to 2.6 billion euros to Volkswagen's operating profit in 2024.
- Stock Performance: Volkswagen's stock was down 1.45% in London following this news.
- Ongoing Updates: The situation is still developing as this breaking news item is being updated.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
