Volkswagen Lowers Sales OutlookÂ
- German giant says auto markets are slowing more than expected
- VW sticks to its full-year target after a strong third quarter
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Volkswagen AG lowered its outlook for vehicle deliveries this year on a faster-than-expected decline in auto markets around the world amid economic jitters in Europe and an unprecedented slump in China.
The worldâs biggest carmaker now expects vehicle deliveries to be flat this year, compared with a previous expectation for a slight rise, the Wolfsburg, Germany-based company said Wednesday in a statement. Volkswagen, which beat analyst expectations for third-quarter earnings, cited the slowing global economy, increasingly intense competition and volatile exchange rates for the change.