January 27, 2021

Volkswagen forecasts car sales revival as it attempts to win over shareholders

Volkswagen predicted a further revival in retail car sales in September despite its business shrinking by more than a fifth in the first eight months of the year in the wake of the coronavirus crisis.

The German carmaker said it expected orders during the month to be above the level they were last year, and reiterated the goal was to remain profitable in 2020.

Herbert Diess, chief executive, said VW expected the “upward trend to continue for the remainder of the year”, but warned that current forecasts were volatile.

The world’s biggest carmaker also faced renewed shareholder criticism of its corporate structure at the delayed annual meeting on Wednesday.

Investors lambasted the lack of diversity on the company’s supervisory board and the continued fallout from the diesel emissions scandal, which has cost VW more than €32bn to date.

German asset manager DWS said it would not vote to approve the

Read More