Overview
- Volkswagen reported an operating loss of about €5.86–5.9 billion for the third quarter, a result driven largely by roughly €8 billion of extraordinary items tied to a writedown of its Porsche stake.
- Group sales revenue fell about 6% in Q3 to roughly €75.3 billion, reflecting weaker volumes and higher sales incentives that squeezed income.
- Seat and Cupra posted an operating loss of €116 million in Q3 as deliveries fell 13% to 139,000 units and year‑to‑date sales were down 3% at 468,000 units, with heavy investment to electrify the Martorell plant weighing on margins.
- Management has proposed a sweeping restructuring that could cut up to 100,000 jobs and close multiple German factories, a plan that unions have rejected and that risks industrial action.
- Executives have lowered 2026 margin guidance to around a 1% maximum and say faster action is needed to restore profitability as fierce competition from Chinese EV makers and lower margins on many electric models reshape the market.