On September 5, 2023, at the International Motor Show (IAA) in Munich, southern Germany, a man was polishing a Volkswagen ID GTI concept car on display.
Christoph Stach | AFP | Getty Images
German automaker Volkswagen said on Tuesday operating profit fell 20% in the first quarter as weak demand for its premium brands led to lower sales.
The company said operating profit for the first three months of 2024 was 4.6 billion euros ($4.9 billion), citing lower sales and higher fixed costs as key factors.
This is a breaking news story and will be updated soon.
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