Volkswagen sees sales slump in China, vows rebound this year
FRANKFURT, Germany (AP) — Volkswagen profits fell 30% in the first three months of the year despite booming business in Europe and North America. That’s because sales fell in China, where the German company is facing increasing competition from homegrown models. VW reported Thursday that after-tax profit fell to 4.7 billion euros from 6.7 billion
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