A Volkswagen logo is seen during the New York International Auto Show, in New York City, April 5, 2023.
Volkswagen expects a 3% rise in its car sales this year, down sharply from 2023 amid a gloomy economic outlook and growing competition.
Presenting the German automaker's 2023 results, finance chief Arno Antlitz said the "general economic situation remains challenging," but added "we are confident about 2024, despite the muted economic outlook and intense competition".
When Stellantis reported results last month, it predicted a "turbulent" 2024.
Volkswagen shares were down 0.65% to 120.16 euros at 1000 GMT, within a flat German market.
Persons:
Arno Antlitz, Stellantis, Mercedes, Benz, Oliver Blume
Organizations:
New York, Volkswagen, EV, EVs, Ford, General Motors, VW
Locations:
New York City, Western Europe