Overview
- CEO Oliver Blume said the expanded reductions will span Audi, Porsche and the Cariad software unit, building on a 2024 deal that targeted about 35,000 roles.
- Earnings after tax fell roughly 44% to €6.9 billion, the lowest since 2016, as operating profit dropped to €8.9 billion on broadly stable revenue of €321.9 billion.
- The company cited U.S. tariffs, weak demand for some electric models, stagnant European demand and intensifying competition in China as key pressures.
- Volkswagen forecast 2026 revenue growth of 0% to 3% and an operating margin of 4% to 5.5%, compared with an adjusted 4.6% achieved last year.
- Management is pursuing multi‑year cost cuts to restore profitability and continues to target an 8%–10% margin by 2030.