Volkswagen shares dipped Wednesday after the corporate issued an in a single day revenue warning and introduced it was contemplating the potential closure of an Audi plant in Brussels.

The corporate has now lowered the forecast for its working return on gross sales to a 6.5% to 7% vary, from 7% to 7.5% beforehand.

It famous that can be contemplating the restructuring or potential shutdown of its Audi plant in Brussels on the again of weak demand for the Audi Q8 e-tron line — a totally electrical providing from the model.

The price of the possible closure or of discovering another use for the positioning, amongst different elements, might result in a success of as much as 2.6 billion euros ($2.81 billion) to the corporate’s working revenue within the 2024 fiscal 12 months, Volkswagen stated.

The carmaker’s inventory was down 1.45% at 10:27 a.m. London time on Wednesday.

This breaking information merchandise is being up to date.