Volkswagen Forecasts Slower Growth in 2024 Amid Tough Market Conditions
• Volkswagen expects 3% rise in car sales in 2024, down from 12% growth in 2023 amid tough market • Citing challenging economic outlook and intense competition • Launched new electric ID.7 model and plans 30 more new models, including EVs, in 2024 • EV demand growth slowing recently, with Mercedes delaying electrification goals • Operating profit margin rose to 5.3% in 2023 from 3.6% in 2022, working towards 8% target