Volkswagen slumps deeper into the red on Porsche writedown
Special items of about €8 billion, mostly tied to Porsche, pushed the automaker deeper into the red as sales revenue fell 6.3%, the company said.
- On Thursday, October 29, 2026, Volkswagen reported a €5.9 billion operating loss in the third quarter, with sales revenue falling 6% to €75.3 billion.
- The automaker faces brutal competition in China, billions in annual tariff costs, and a costly EV ramp-up in Europe, pressuring Volkswagen to overhaul its business model.
- Visible Alpha analysts had forecast a €2.6 billion loss, significantly lower than the actual result and the €1.3 billion loss from the same period last year.
- CEO Oliver Blume plans 100,000 job cuts across the group, including Audi and Porsche, to stabilize operations amid the crisis.
- Finance chief Arno Antlitz said, "We cannot afford to lose any time. We must act quickly and decisively," underscoring management's urgency to execute the restructuring plan.
194 Articles
194 Articles
Volkswagen Swings to Loss After Writedown, China Market Slump
The German manufacturer suffers from a major offensive from the Chinese local brands, which impose their electric vehicles at aggressive prices. The group recorded a loss of 5.8 billion euros in the third quarterThe car giant in crisis Volkswagen called on Thursday to accelerate its savings measures after a heavy net loss in the third quarter largely due to its difficulties in the Chinese market. "We must accelerate and step up our efforts to st…
Volkswagen posts $6.8 billion quarterly loss as slumping China demand, Trump tariffs, and Porsche write-down weigh on earnings
CFO Arno Antlitz said the carmaker's results so far this year mean that "we cannot afford to lose any time and must act quickly and decisively."
German automotive giant Volkswagen reported an operating loss of €5.9 billion in the third quarter, impacted by falling Porsche share prices and losses in the Chinese market. This is the company's largest quarterly loss since the 'Dieselgate' scandal, and its plan to lay off 100,000 people and close factories is accelerating.
Coverage Details
Bias Distribution
- 39% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
