UPDATE 3-VW waters down outlook after strong Q2

Newswire

(Adds fund manager comment paras 13-14, 21-22, updates shares) By Michael Steen FRANKFURT, July 30 (Reuters) - Volkswagen AG , Europe's biggest carmaker, posted stronger-than-expected second-quarter earnings on Tuesday but bowed to what many saw as the inevitable and cut its profit outlook for the whole year. Hit by shrinking markets in Europe, the United States and South America and only able to offer an ageing range of models, VW had come under increasing pressure to concede ...

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