Moody's cuts Volkswagen's outlook to 'negative' due to operating weakness

Record ID: 1847173

  • Title: Moody's cuts Volkswagen's outlook to 'negative' due to operating weakness
  • Date: 11th October 2024
  • Summary: SAO PAULO, BRAZIL (OCTOBER 9, 2024) (REUTERS) VARIOUS OF TRAFFIC AND PEDESTRIANS ON PAULISTA AVENUE PERSON SHOWING HEADLINE ON PHONE READING (Portuguese): ‘(Supreme Court Judge) Alexandre de Moraes allows X to return to operate in Brazil after it accepted to comply with legal demands’ SYSTEM ANALYST, CESAR CUNHA, LOOKING AT HIS PHONE (SOUNDBITE) (Portuguese) SYSTEM ANALYST
  • Embargoed: 25th October 2024 14:46
  • Keywords: German Economy minister Habeck Moody's rating Volkswagen
  • Location: VARIOUS, GERMANY
  • City: VARIOUS, GERMANY
  • Country: Germany
  • Topics: Europe,Economic Events
  • Reuters ID: LVA001125311102024RP1
  • Aspect Ratio: 16:9
  • Story Text: Rating agency Moody's has cut its outlook on Volkswagen to "negative" from "stable," citing a deteriorating operating performance at Europe's top carmaker and expected challenges to turn the situation around.
    "We expect VW's operating performance to be muted into 2025 driven by low volume growth globally including a weak domestic China and sluggish Western Europe, increasing price pressure, potential fines on EU CO2 emissions, as well as additional restructuring costs," Moody's said.
    (Production: Lena Toepler)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2024. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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