Volkswagen’s Q3 Losses Mount Amid Porsche’s EV Strategy Reversal and U.S. Tariffs
Volkswagen reported a €1.3 billion operating loss in the third quarter, driven by Porsche's abrupt pivot away from electric vehicles and mounting U.S. import tariffs. The automaker booked €4.7 billion in charges this year alone as Porsche shifted focus back to combustion engines and hybrids—a MOVE that cratered group profitability.
CFO Arno Antlitz acknowledged the challenges, emphasizing the need for rigorous cost-cutting and operational efficiency. While European EV sales remain robust, the transition to electrification continues to squeeze margins.
Despite the grim results, Volkswagen's stock ROSE 1.2% in Frankfurt trading as losses came in below analyst expectations of €1.7 billion. The company now faces a potential additional €5 billion tariff hit by year-end.
