Core Viewpoint - Volkswagen's global sales growth has significantly slowed down due to high tariffs in the U.S. and declining demand in key markets [1] Group 1: Sales Performance - In Q2, Volkswagen's global vehicle deliveries increased slightly by 1.2% year-on-year, reaching 2.27 million vehicles [2][4] - In the U.S., Volkswagen's overall sales dropped by 16% year-on-year in Q2, contrasting with a 4.4% growth in Q1, indicating the direct impact of tariff policies on demand [2] - Sales of high-profit brands such as Porsche, Audi, Lamborghini, and Bentley fell by 7.7% year-on-year in Q2, totaling 480,200 units [3] Group 2: Market Dynamics - The U.S. has imposed a 20% tariff on products from the EU, which has adversely affected Volkswagen's North American operations [3] - In China, Volkswagen's electric vehicle sales plummeted by nearly one-third due to intensified competition from local brands like BYD, although overall sales in China grew by 2.8% driven by an increase in gasoline vehicle sales [3] - Despite pressures in major markets, Volkswagen's electric vehicle sales globally rose by 38% year-on-year in Q2, with a remarkable 73% increase in the European market [3] Group 3: Profitability Concerns - Volkswagen's profit in Q1 declined by 40%, raising concerns about profitability due to a structural shift towards lower-margin vehicles [5] - The management emphasized the continuation of electric vehicle strategies and expansion into emerging markets to adapt to changing global market dynamics [5]

Core Insights - Nintendo's new console, Switch 2, sold over 3.5 million units within four days of its global launch on June 5, but the company president, Shuntaro Furukawa, expressed concerns about sustaining this sales momentum [1] - Furukawa emphasized the risks of over-reliance on console sales and highlighted the importance of diversifying into non-console businesses, such as theme parks and movies, which have shown success in recent years [1] - The company plans to release a new Mario animated film and a live-action Legend of Zelda movie to expand its market presence and create additional customer touchpoints [2] Market Expansion Strategy - Nintendo is focusing on emerging markets in Asia and Latin America due to stagnation in mature markets, noting that the cumulative sales of Switch hardware have reached 150 million units [2] - The company recognizes the challenge of attracting new users in traditional strong markets and aims to cultivate a fan base in regions with fewer casual gamers [2] Financial Performance and Challenges - Furukawa stated that the profitability of Switch 2 is comparable to that of the original Switch launched in 2017, but rising component prices post-pandemic pose challenges for cost reduction through economies of scale [2] - Positive feedback has been received regarding the compatibility of Switch software with Switch 2, particularly with the bundled game Mario Kart [2]