Volkswagen posts deepest loss since Dieselgate on Porsche writedown, China woes
Volkswagen reported a third-quarter operating loss of €5.9 billion, its largest quarterly deficit since 2015, driven by €8 billion in one-off charges including a writedown on its Porsche stake. The company urged swift restructuring as weakness in China weighed on its business.
1. Quarterly loss
Volkswagen reported a third-quarter operating loss of €5.9 billion, its steepest quarterly loss in more than a decade. The deficit was driven by €8 billion in one-off charges, including a writedown on its stake in Porsche, and was the company’s largest quarterly loss since the fourth quarter of 2015.
2. Restructuring pressure
Finance chief Arno Antlitz said Volkswagen must fundamentally reshape its business model and implement its restructuring plan quickly. Agreed by the board in September, the plan involves 100,000 job cuts across the group and the closure of up to four plants in Germany.
3. China challenges
Volkswagen is facing pressure in China as consumers shift toward domestic brands and local manufacturers expand into Europe. The company is increasing exports from China to offset weaker local demand, while its Anhui venture is loss-making; management is targeting a return to at least break-even by 2030. Investors described 2026 as a transitional year.
