Volkswagen Q2 profits drop by a third

Volkswagen Group's profits declined by about one-third in the second quarter of 2026, with net income dropping 33% to €1.54 billion, compared to €2.3 billion in the same period last year. Car sales in the Chinese market also fell by more than a third, reaching 424,300 vehicles, while overseas markets performed relatively better. The company has lowered its revenue forecast for the year, now expecting stability or a contraction of up to 3%. Volkswagen is facing pressure from geopolitical and competitive factors and plans to implement austerity measures, including cutting 50,000 jobs and closing factories. However, the factory closures by 2030 were excluded by the CEO, who emphasized the need to improve competitiveness rather than shut down operations.

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