US EditionVolkswagen Posts 1-Billion-Euro Loss on Tariffs, Porsche Woes
Volkswagen's €1.07 billion Q3 loss stems from US tariffs costing €5 billion annually, Porsche's delayed EV rollout, and chip shortages, marking its first quarterly loss in five years.
- Volkswagen booked a €1 billion loss due to US tariffs and a strategy reversal at Porsche regarding electric vehicles.
- Porsche, once Volkswagen's most profitable brand, has become a source of strain amid sluggish demand for electric sports cars and growing competition in China.
- The Volkswagen group's net profit shrank more than 60% to €3.4 billion from €8.8 billion last year due to higher tariffs, adjusting the product strategy at Porsche, and write-downs to Porsche's value.
110 Articles
110 Articles
Porsche’s 99% Profit Tumble Signals Trouble for Luxury Brands Worldwide
Porsche’s billion-dollar loss last week isn’t just a setback for one of the world’s most profitable automakers—it’s a warning shot for the entire luxury economy. After years of record profits fueled by cheap credit and post-pandemic “revenge spending,” the German carmaker’s sudden slowdown shows that even the world’s most coveted brands are losing altitude as global demand cools. The company reported a €966 million ($1.1 billion) quarterly loss …
Volkswagen, Europe’s leading car manufacturer, recorded its first loss since the COVID-19 pandemic, affected by US tariffs and difficulties in the transition to electric vehicles in its Porsche subsidiary. After six consecutive quarters of decline in profits, the car giant recorded a net loss of $1.244 billion in the third quarter, according to the results published on Thursday. This is the first loss since spring 2020. And this despite an annua…
In the third quarter, due to Porsche's problems, the VW Group slipped deeply into the red. As the Wolfsburg-based company announced, a loss of 1.07 billion euros occurred between July and September.
In the third quarter, VW writes red figures - mainly because of Porsche and new US tariffs. How the austerity program works and what challenges are still ahead.
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
