Volkswagen Books 5.8 Billion Euro Loss Amid Porsche Writedown, China Weakness
The automaker's third-quarter results included a 6.4 billion euro reduction tied to its Porsche holding.
By Bianca Herrera ·
Volkswagen reported a 5.8 billion euro after-tax loss for the quarter ending September, the company said Thursday, as one-time charges combined with soft demand in China, U.S. import taxes and lower margins on electric vehicles. Sales revenue fell 6.3 percent to 80.3 billion euros compared with the year-earlier quarter.
A 6.4 billion euro reduction reflected the decline in value of Volkswagen's stake in Porsche, the luxury carmaker. China, long a source of profit for the company, now presents falling demand alongside price competition from local manufacturers. Tariffs imposed under President Donald Trump have also cut into earnings, as have electric vehicles, which generate less profit per unit than combustion-engine models.
Chief Financial Officer Arno Antlitz said the year's results to date mean that "we cannot afford to lose any time and must act quickly and decisively." The company is pursuing a restructuring that could close four plants in Germany and eliminate up to 100,000 jobs.
Volkswagen announced the quarterly figures on Thursday, October 29, 2026.
The restructuring plan remains the scheduled next step in the cost-reduction effort outlined by the company.
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