VW Warns on Profit With China Decline, Overhaul Weighing

Volkswagen AG lowered its operating margin forecast, reflecting a sharp contraction in the Chinese car market and costs related to its job-cutting plan. The carmaker also cited a €6 billion...

By William Wilkes · Bloomberg Markets

Volkswagen AG lowered its operating margin forecast, reflecting a sharp contraction in the Chinese car market and costs related to its job-cutting plan. The carmaker also cited a €6 billion ($6.9 billion) writedown on the value of its stake in Porsche AG.