You can also find out more about the A-Team here. Volkswagen The logo can be seen on the website New York International Auto Show Press PreviewIn Manhattan, New York City, U.S., March 27, 2024. 

David Dee Delgado | Reuters

Volkswagen shares dipped Wednesday The company has announced its intention to close the plant after it issued a profit warning overnight. Audi plant in Brussels.

The Company has now reduced its forecast for the operating return of sales from 7% to 75%, to a range between 6.5% and 7%.

It The company is also evaluating the possibility of restructuring or closing down its Audi plant in BrusselsThe company has been forced to lay off 3,000 workers in its, due to the weak demand for the Audi Q8 e-tron line — a fully electric offering from the brand, launched in 2019.

Automakers Electric vehicle demand has been declining. European The challenge for brands is compounded by a flood of state-subsidised, discounted rival vehicles manufactured in China. The The EU has begun imposing provisional tariffs against EVs imported into the EU. ChinaAs a result,

If It is a sign that it has pressed ahead. Volkswagen’s The first factory shutdown for nearly 40 years, since the closure of its 1988 plant Westmoreland County, Pennsylvania.

The The cost of the potential closure or finding an alternative purpose for the site could result in a loss of up to 2.61 billion euros to the operating profit of the company during the fiscal year 2024. Volkswagen said.

Deutsche Bank Analysts qualified the potential Brussels Factory shutdowns as a result of a “major step in the right direction,” The short term cash impact of anticipating costs is minimal. Analysts Brokerage Stifel meanwhile labeled Audi As well as “Volkswagen’s biggest problem” You can also find out more about the following: “the biggest concern for investors” Divisional basis

“The bigger issue is the severe delay in new models in recent years; Audi has been falling behind Mercedes and BMW. We calculate that the average age of Audi’s portfolio is now six years (BMW: three years, Mercedes 3.6 years),” “They said.”

Volkswagen Has also seen a decline in the overall deliveries. The Volkswagen Group delivered 2,243.700 vehicles globally over the April-June The period is based on the Frankfurt, Germany, bourse — down 3.8% on the same period of last year. Audi’s Performance was down 11.3% on an annual basis over the last three months.

Deliveries The following are some of the ways to get in touch with us: China The second quarter saw a sharp 19.3% drop, but the third quarter showed a 5.1% increase. Western Europe 10% of the population is able to access the internet. North America.

Volkswagen’s At 11:14 AM, the stock price was down by 1.45% London Time to go Wednesday. The The company will present its results for the second quarter on Aug. 1.

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CNBC’s Ganesh Rao Contributed to this report

Correction: In 1988 Volkswagen Closed its plant in Westmoreland County, Pennsylvania. An In an earlier version, the location was wrongly stated.

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