4 publishers · first seen Thu, 29 Oct 2026 12:54 UTC · updated Fri, 30 Oct 2026 12:33 UTC
Volkswagen reported a 5.8 billion euro ($6.5 billion) after-tax loss for the third quarter of the year, citing a 6.4 billion euro writedown on its stake in Porsche, weak demand in China, and U.S. tariffs under President Donald Trump. Sales revenue fell 6.3% to 80.3 billion euros compared to the same period last year, while the company faces declining profits from electric vehicles and rising competition from Chinese carmakers.
Chief financial officer Arno Antlitz said the results demand quick and decisive action, as the company pursues a restructuring that could eliminate up to 100,000 jobs and close four German plants. The operating return on sales was 3.8% in the first nine months, below the long-term target of 8-10% by 2030.
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