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Fly News Breaks for September 2, 2015
VLKAY
Sep 2, 2015 | 07:58 EDT
Bernstein believes that the China auto market is weakening quickly, as prices fall and demand has stopped growing. The firm now expects Volkswagen's 2H15 China equity income to drop 30% versus last year to EUR1.3B and it estimates that the company's brand margin will decline to 2.2% in 2H15. The firm does not expects the company's profitability to rise in 2016 from 2H15 levels. Bernstein keeps an Outperform rating on Volkswagen.
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