Volkswagen reports €5.8 billion quarterly loss
Sales dropped 6.3 per cent to €75.3 billion as the German carmaker faced intense competition in China.
Volkswagen’s third-quarter loss widened to €5.8 billion from €1.1 billion a year earlier, the German carmaker said on 29 October 2026. The results come as the group faces falling demand, competition from Chinese rivals and the expense of moving to electric vehicles.
The company said quarterly sales declined by 6.3 per cent to €75.3 billion. China, the world’s largest car market, has been a source of competitive pressure for Volkswagen and its peers.
Volkswagen plans to eliminate 120,000 jobs throughout the group by 2030 as part of efforts to lower costs. It put the cost of the restructuring at €31 billion. Chief financial officer Arno Antlitz called for the measures to be implemented quickly and consistently.
The group, whose 10 brands include Audi, Seat and Skoda, had already warned of a €10 billion impact on annual profit. That warning was driven principally by the value of its Porsche stake, with Porsche also facing difficulties in China.
