US EditionTariffs have cost Volkswagen ’several billions’ so far, CEO says
Volkswagen is negotiating with the U.S. government to build local production facilities for Audi and Porsche, aiming to reduce 27.5% tariffs that have cost billions this year.
- Volkswagen's CEO Oliver Blume stated on September 8, 2025, that US tariffs have cost the company several billion euros this year, impacting brands like Porsche and Audi which lack US production facilities.
- These tariffs stem from 2018 trade policies under Section 232, imposing 27.5% duties on European auto imports, which Volkswagen seeks to reduce to 15% through ongoing negotiations with the US government.
- Blume emphasized that these tariffs drive up production costs and force Volkswagen to absorb expenses, reducing profit margins and complicating the strategy to expand electric vehicle offerings regionally, especially in the US.
- Blume stated at the IAA Munich auto show that the current challenges have caused a financial impact amounting to billions of euros for the company this year, underscoring the difficult market environment.
- The expected trade agreement with tariff reductions and EV incentives could stabilize Volkswagen's US investments and support future production decisions, including a potential local Audi plant by year-end 2025.
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16 Articles
16 Articles
Tariffs have cost Volkswagen ‘several billion’ so far
US tariffs have cost Volkswagen, Europe's largest carmaker, billions of euros so far, its CEO said on Monday, adding its key brand Porsche was being squeezed in a "sandwich" of duties and a weak Chinese market.
·Johannesburg, South Africa
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Tariffs have cost Volkswagen 'several billions' so far, CEO says
U.S. tariffs have cost Volkswagen , Europe's largest carmaker, billions of euros so far, its chief executive said on Monday, adding that its key brand Porsche was being squeezed in a "sandwich" of duties and a weak Chinese market.
·United Kingdom
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Total News Sources16
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 29%
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