VW considers Chinese models for Europe as profit falls
Volkswagen may build China-specific models in Europe to address underused plants as quarterly profit fell 14 percent. CEO Oliver Blume cited weak global demand.
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VOLKSWAGEN AG reported a 14% fall in operating profit to 2.5 billion euros ($2.9 billion) during the first quarter. Revenue fell 2.5% to 75.7 billion euros as the group faces 4 billion euros in United States import tariffs this year. CEO Oliver Blume is considering building China-specific models in Germany to reverse declining returns and under-used capacity.
