(Reuters) – Volkswagen (ETR:) shares fell to their lowest since April 2020 on Monday after the German carmaker reduce its revenue margin outlook for the present yr, disappointing some traders.
Blaming destructive results from uncooked supplies hedges, Europe’s largest automotive group on Friday indicated a return on gross sales of seven.0-7.3%, down from 7.5-8.5% forecast beforehand. Volkswagen saved its outlook for deliveries and gross sales.
Volkswagen shares fell 2.9% in Frankfurt by 0732 GMT, main fallers throughout the European auto sector, which was down 0.5%.