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Volkswagen reports lower Q2 profits
Volkswagen Group announced that its operating profits for the second quarter of 2026 fell short of expectations, reaching 3.5 billion euros—a decline of nearly 10% compared to the previous year, below the expected 4.3 billion euros. The company also anticipates a decline in sales revenue this year of up to 3%, whereas earlier forecasts had predicted a 3% growth. The company is experiencing a profit downturn due to rising costs, and is considering cutting up to 100,000 jobs. It faces challenges from increasing tariffs and competition from Chinese companies. The company's shares dropped by 3%, and have decreased approximately 30% since the beginning of the year.
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