Mass Job Cuts Loom at VW as Profits Fall Steeply on China Sales Slump Volkswagen's latest financials are a stark reminder that even the most established global players can't outrun the tides of change in the world's largest car market.
The German giant is staring into the abyss of a sales slump that threatens to upend its very business model. The company expects sales revenue to fall by up to 3% this year, reversing a previous forecast for growth.
This reversal is particularly striking given VW's previous optimism about China's prospects.