Volkswagen cuts outlook on $11.5 billion one-off hit

By Reuters News

Sept 18 (Reuters) - Volkswagen _p.DE> on Friday slashed its outlook, flagging €10 billion ($11.5 billion) in one-off items related to its stake in luxury sportscar maker Porsche P911_p.DE, provisions for job cuts and a weak Chinese market.

Shares in Europe's largest automaker fell 5.6% on the news.

The German-based group now expects a profit margin of 1% at the most in 2026, having previously guided for 4.0% to 5.5%.

($1 = 0.8721 euros)

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