Volkswagen has cut its financial forecasts for the year as Europe’s largest carmaker revealed a €1.3bn hit from US President Donald Trump’s trade war.
The German company said on Friday that it expected an operating return on sales of between 4 and 5 per cent in 2025, down from a previous prediction of 5.5 to 6.5 per cent.
Unlike many of its rivals, VW had not disclosed the impact of the additional 25 per cent tariff the US president imposed on cars exported from the EU to the US.
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