"We see that people are more cautious due to recession expectations, and we are not selling so many cars," said Frank Fiedler, chief financial officer of Volkswagen Financial Services, in Braunschweig on Wednesday evening. Rising interest rates may weigh on earnings in the coming year, he said, adding that the Volkswagen unit could not make a concrete forecast for its operating profit yet.
UK car registrations jump 23.5% according to the Society of Motor Manufacturers and Traders.
Volkswagen Chief Executive Oliver Blume will present a long-delayed new software strategy for the carmaker at a supervisory board meeting on Dec. 15, Handelsblatt newspaper reported on Monday, citing company sources. The strategy will lay out how Blume aims to make the carmaker's proprietary software competitive and market-ready by the end of the decade, an ambition that will cost the company 1 billion euros ($1.05 billion), Handelsblatt reported.