Carmaker, which is pushing through cost-cutting programme, expects sales to fall by up to 3% this year
Volkswagen has reported a steep fall in profits and cut its revenue forecast amid a sales slump in China , as the German carmaker pushes through a brutal cost-cutting programme that includes slashing up to 100,000 jobs.
The worlds second-largest maker of vehicles said it expects sales to fall by up to 3% this year, a dramatic reversal on a previous forecast for a 3% increase on last years 321.9bn (05275.3bn), because of a sales slump in the highly competitive Chinese market.
The sales slump will increase pressure on the company to cut costs. Earlier this month the carmakers supervisory board rejected the chief executive Oliver Blumes plans to shut four factories in Germany, as the manufacturer confirmed it was raising the job cuts target to 100,000 , double the number already agreed by unions.
Volkswagens operating profit fell by 9.5% to 3.5bn in the second quarter, below analysts estimates of a small increase to 3.9bn, as Blume battles with unions to push through a radical restructuring programme.
On Friday the company said that the proposed additional job cuts would mostly be in administrative positions across its global business.
The plans also include reducing Volkswagens model line by up to half.
Volkswagen employs more than 650,000 people across all its brands, which include Audi, Bentley, Skoda, Seat, Porsche and Cupra, and has been hit hard by growing C and cheap C Chinese competition and the struggle to shift to electric cars.
In the first half of this year, Volkswagen delivered 6.3% fewer cars globally, about 4.1m, mostly because of its travails in China.
Volkswagen sales in China have fallen by more than 31% in the first of this year, against increases in Europe and North America.
The extent to which western carmakers are being squeezed out of the Chinese car market by domestic operators is laid bare by Volkswagens latest update, said Russ Mould, the investment director at AJ Bell.
Blume said on Friday that Chinese carmakers had sharply increased exports, which was adding pressure in Europe, adding that the restructuring programme was essential to make the company more innovative, faster, more attractive and robust.
Volkswagens share price fell 1.5% after the release of its latest financial results and are down 66% over the past five years.
After nearly four years at the wheel as chief executive, Oliver Blume is likely to come under increasing pressure, Mould said. His plan to steer Volkswagen back on to a growth path involves drastically cutting costs, including by slashing the companys headcount. There are also plans to reduce the number of models and sell off non-core assets to make Volkswagen a more efficient machine. Pushing these through may be difficult given likely opposition from unions, and whether they are enough to win over the market is an open question.
The tough market in China has also hit other carmakers, with BMW last month moving to cut its profit guidance for this year because of the disruption caused by the Iran war and the companys struggles in the Chinese market.
正在推行成本削减计划的汽车制造商预计，今年销售额将下降多达3%。
大众汽车报告称，由于在华销量下滑，其利润大幅下降并下调了营收预期。这家德国汽车制造商正在推行一项严苛的成本削减计划，其中包括裁员多达10万人。
全球第二大汽车制造商表示，由于在中国这一高度竞争的市场中销量下滑，预计今年销售额将下降3%，与先前预测的较去年3219亿欧元（约合2753亿英镑）增长3%形成巨大反差。
销量下滑将加剧该公司的成本削减压力。本月早些时候，这家汽车制造商的监事会否决了首席执行官奥利弗·布鲁姆（Oliver Blume）关闭德国四家工厂的计划。与此同时，该公司确认将裁员目标上调至10万人，这一数字是工会已同意裁员规模的两倍。
大众汽车第二季度营业利润下降9.5%至35亿欧元，低于分析师预测的微增至39亿欧元的预期。与此同时，首席执行官布鲁姆正与工会角力，以推动一项重大重组计划。
该公司周五表示，拟议的额外裁员将主要集中在全球业务中的行政岗位。
该计划还包括将大众汽车的产品线缩减至多一半。
大众汽车集团旗下拥有奥迪、宾利、斯柯达、西雅特、保时捷和Cupra等品牌，全球员工总数超过65万人。当前，该公司正面临日益壮大的中国竞争对手（以低价策略见长）带来的巨大冲击，同时在向电动汽车转型的过程中也遭遇重重挑战。
今年上半年，大众汽车全球交付量同比下降6.3%，约为410万辆，主要受其在华业务困境影响。
大众汽车今年第一季度在华销量骤降逾31%，而同期在欧洲和北美市场则实现增长。
AJ Bell投资总监拉斯·莫尔德表示，大众汽车的最新动态充分揭示了西方汽车制造商在中国市场被本土企业挤压的程度。
布卢姆周五表示，中国汽车制造商大幅增加出口，这给欧洲市场带来了压力。他同时强调，重组计划对于使公司变得“更具创新性、更快速、更有吸引力和更稳健”至关重要。
大众汽车公布最新财报后股价下跌1.5%，过去五年累计跌幅达66%。
莫尔德表示，奥利弗·布鲁姆（Oliver Blume）在担任大众汽车首席执行官近四年后，可能面临越来越大的压力。他计划通过大幅削减成本（包括裁员）来推动大众重回增长轨道。此外，大众还计划减少车型数量并出售非核心资产，以提高运营效率。但由于可能遭到工会的反对，这些举措的推进或将面临阻力，且其能否赢得市场认可仍是未知数。
中国市场的严峻形势也波及了其他汽车制造商。由于伊朗战争造成的动荡以及该公司在中国市场的艰难处境，宝马（BMW）上月已下调了今年的利润预期。
