Overview
- Seat and Cupra posted a €22 million operating loss in Q3 with a −0.6% margin despite 32% revenue growth and 159,000 vehicles delivered.
- Year to date, the unit’s operating profit fell 96% to €16 million, the weakest showing among the group’s Core brands.
- Volkswagen’s Q3 operating profit dropped 58% to €5.408 billion as product mix shifts, higher costs and EU tariffs on the China-built Cupra Tavascan pressured margins.
- The company now targets a 2–3% full-year margin and projects automotive free cash flow below €1 billion with net liquidity around €30 billion negative.
- CEO Oliver Blume is pushing restructuring with cost cuts, potential job reductions in Germany and expanded in-house battery production, while Porsche reported a €228 million operating loss.