Volkswagen slumps deeper into the red on Porsche writedown
The German automaker said special items totaled about €8 billion, including a large impairment on its Porsche stake, as sales fell 6.3%.
- 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.
167 Articles
167 Articles
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.
Volks Disclosure Volks Disclosure Volkswagen registered operational damage of US$ 6.59 billion in the third quarter of 2026, the worst result in more than a decade. The assembler faces difficulties in important markets, such as China, and started a wide restructuring of the business. The result was affected by extraordinary items that amounted to about US$ 8.9 billion, largely related to a low accounting value of Volkswagen's participation in Po…
VW says 'no time to lose' to slash costs after 5.8 billion euro loss
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