
The financial regulator is sanctioning the Wolfsburg-based car manufacturer for the late publication of an annual forecast in 2023.
AI-generated summary
Volkswagen communicated a positive annual forecast for 2023 via a press release instead of as an ad hoc announcement.
The German financial supervisory authority BaFin imposed a fine of 1.2 million euros on the car manufacturer VW. BaFin announced this today. The reason: Volkswagen had announced a significantly better annual forecast for 2023 than expected on the market - although not in an ad hoc announcement that was marked as particularly important, but only in a press release.
However, the ad hoc rules stipulate that companies must immediately publish inside information if it is likely to significantly influence the price of shares or other securities. This also includes business figures that differ significantly from the expectations of analysts and other market participants.
Rules are intended to prevent insider trading
This is intended to prevent insiders from gaining advantages when trading securities with their advanced knowledge. Violations can result in a fine of up to 2.5 million euros.
On March 3, 2023, Volkswagen announced an optimistic outlook during ongoing stock market trading. The stock was up more than 10 percent that day.
Volkswagen can lodge an objection against the alleged violation of the publication obligation.
AI outlook — possibilities, not facts
Volkswagen is appealing the fine
Possible · Within weeks

Volkswagen has to pay a Bafin fine of 1.2 million euros for violating the Market Abuse Regulation. The group did not immediately publish good forecasts for 2023 in an ad hoc announcement.

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Volkswagen has to pay a fine of 1.2 million euros for violating the Market Abuse Regulation. The car manufacturer only published a forecast that exceeded market expectations in a press release instead of as an ad hoc announcement.

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