Volkswagen Reports €1.3 Billion Q3 Loss Amid U.S. Tariffs and Porsche Costs
Volkswagen posted an operating loss of €1.3 billion ($1.52 billion) in the third quarter, weighed down by heavy charges related to U.S. tariffs and ongoing restructuring at its Porsche division, the company said on Thursday.
The result marks a sharp drop from the €2.8 billion profit reported a year earlier but still came in slightly better than analysts’ expectations, which had projected a €1.7 billion loss, according to data from Visible Alpha.
Tariffs and Porsche Restructuring Drive Heavy Costs
Volkswagen said combined tariff expenses, along with writedowns and costs tied to Porsche’s product overhaul, resulted in €7.5 billion in charges over the first nine months of 2025. The company’s continued transition to electric vehicles (EVs) also weighed on profit margins during the quarter.
The automaker warned that rising U.S. import duties could further impact results, potentially adding up to €5 billion in additional costs in 2025 if trade tensions persist.
Volkswagen Stays Focused on Efficiency and Guidance
Chief Financial Officer Arno Antlitz said the group is prioritizing efficiency and scale to navigate challenging market conditions.
“Our focus will be — among others — on the targeted use of our scale and exploiting synergies within the group even more effectively,” Antlitz noted.
Despite the quarterly setback, Volkswagen reaffirmed its full-year guidance, maintaining expectations for an operating margin between 2% and 3% and revenue roughly in line with last year’s levels.
