Shortly after confirming it was looking at closing plants and cutting up to 100,000 jobs, the world’s 2nd largest auto company posted miserable financials and a desperate outlook as it lays the ground work for a radical overhaul of its business under threat from Chinese upstarts. [Link: Volkswagen CFO addresses plant closures, job losses as profits sink | https://www.cnbc.com/2026/07/24/volkswagen-earnings-autos-germany.html | CNBC]

German auto giant Volkswagen on Friday reported weaker-than-expected second-quarter profit and revised down its sales forecast for 2026.

Carmaker, which is pushing through cost-cutting programme, expects sales to fall by up to 3% this year