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FrontRow · Jul 24, 2026

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Volkswagen reported weaker-than-expected second-quarter profits on Friday and scrapped hope for sales revenue growth in 2026, as the German auto giant lays the groundwork for a radical overhaul of the business. Europe's biggest carmaker posted an operating profit of 3.5 billion euros ($3.98 billion) for the April to June period, down nearly 10% from a year ago and missing expectations of 4.3 billion euros, according to an LSEG-compiled consensus. The company also flagged it expects sales revenue in 2026 to see a decline of up to 3% this year, versus a previous forecast of sales revenue growth of up to 3%. The results come shortly after the company confirmed it is looking to cut up to 100,000 jobs, twice as many as previously stated, as it seeks to counter a profit slump amid billions of euros in tariff costs and intensifying competition from Chinese car brands.

Volkswagen reported weaker-than-expected second-quarter profits on Friday and scrapped hope for sales revenue growth in 2026, as the German auto giant lays the groundwork for a radical overhaul of the business. Europe's biggest carmaker posted an operating profit of 3.5 billion euros ($3.98 billion) for the April to June period, down nearly 10% from a year ago and missing expectations of 4.3 billion euros, according to an LSEG-compiled consensus. The company also flagged it expects sales revenue in 2026 to see a decline of up to 3% this year, versus a previous forecast of sales revenue growth of up to 3%. The results come shortly after the company confirmed it is looking to cut up to 100,000 jobs, twice as many as previously stated, as it seeks to counter a profit slump amid billions of euros in tariff costs and intensifying competition from Chinese car brands.

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