Volkswagen has revised its financial guidance for the fiscal year, citing a challenging market environment. The company now expects its full-year automotive net cash flow to be €2 billion, down from the previous estimate of €2.5 billion to €4.5 billion. Additionally, Volkswagen has cut its operating return on sales (ROS) forecast to 5.6%, from an earlier range of 6.5% to 7%. The company also anticipates a 20% year-on-year drop in profits for 2024, which would mark the lowest profit since 2020. This adjustment comes amid high levels of car inventories in North America and a continued slowdown in electrification. The revised guidance reflects the company's efforts to navigate a difficult market landscape. The previous consensus earnings estimate was €28.88 per share, which has been adjusted to around €23 per share, translating to approximately 4x earnings after the cut. Volkswagen's stock closed after hours at €94.