Volkswagen Q2 profit drops by a third
Volkswagen Group's profits declined by 33% in the second quarter of 2026, falling to €1.54 billion from €2.3 billion in the same period of 2025. This downturn was driven by a drop in car sales, especially in the Chinese market, which decreased by more than a third to 424,000 vehicles. The company also revised its revenue forecast for 2026, now expecting stability or a decrease of up to 3%, citing geopolitical and competitive pressures, as well as austerity measures that include cutting up to 50,000 jobs and closing factories. These plans have faced growing opposition from trade unions and members of the supervisory board. The CEO indicated that closing factories by 2030 is unrealistic, emphasizing instead a focus on improving competitiveness.
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