June 28 (Reuters) - Shares in Volkswagen (VOWG_p.DE) inched higher on Wednesday, recovering slightly from a selloff the day before when the automaker played down reports it will cut EV output in Germany over the next two weeks because of lower than expected demand.
Volkswagen "expects the trend in BEV (battery electric vehicle) orders, which already improved in May, to gradually stabilise in the coming months," spokesperson Christopher Hauss told Reuters.
Following reports by news agency dpa-AFX of a production cut, Volkswagen shares fell 2% on Tuesday.
However, some analysts said the reported production cut indicates the European EV market is not growing fast enough to support all the new EV models and planned extra capacity.
"Our EV forecasts for Ford (F.N) and GM (GM.N) are a fraction of management targets by mid-decade", analysts at the investment bank say.
Persons:
Christopher Hauss, Hauss, Volkswagen's, Daniel Schwarz, Morgan Stanley, Paolo Laudani, Barbara Lewis
Organizations:
Volkswagen, Reuters, EV, VW, Ford, GM, Thomson
Locations:
Germany, Emden