Volkswagen's Q2 profits dip amid China competition
Volkswagen, the German automotive company and the largest car manufacturer in Europe, experienced a 9.32% decline in its profits during the second quarter of 2026, reaching €1.54 billion. This downturn was accompanied by a significant drop in sales in China, decreasing by more than a third. The company also anticipated a revenue contraction of up to 3% by the end of the year. Facing pressures from rising Chinese car exports and increased competition in the European automotive market, Volkswagen has implemented austerity measures that include cutting up to 50,000 jobs worldwide, despite resistance from unions and stakeholders.
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