Volkswagen posts €5.82 billion loss in third quarter — Der Spiegel

Volkswagen posted a net loss of €5.82 billion in the third quarter of 2026. A year earlier, the company recorded a loss of €1 billion. The group’s revenue for the period declined by 6.3% to €75.3 billion, while vehicle sales fell from 2.2 million to 1.88 million cars, Der Spiegel reports.

Write-downs and pressure in markets

Volkswagen said the decline in operating profit was primarily caused by one-off effects totaling €7.8 billion in the third quarter. The largest part of this amount was a write-down of Porsche goodwill.

The result was also affected by the contraction of the Chinese market, increased price and competitive pressure worldwide, and a growing share of lower-margin electric vehicles.

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Results for nine months

Since the beginning of the year, Volkswagen’s revenue amounted to €233.4 billion, slightly less than in the same period last year. Operating profit for nine months totaled only €100 million, compared with €5.4 billion in the first nine months of 2025.

The group’s chief financial officer, Arno Antlitz, said the nine-month results demonstrate the need to act quickly and decisively. In September, Volkswagen CEO Oliver Blume significantly lowered the company’s forecast, with the group attributing this to a number of special burdens.

By the end of the year, the group is also negotiating with employees on further job cuts. Blume seeks to further reduce production capacity; according to estimates, another 50,000 jobs in the group could be at risk. Cuts to 50,000 positions have already been agreed at the company by the end of the decade.