Overview

• Volkswagen’s Q2 net profit fell 36.3% year-on-year to €2.29 billion.
• The company lowered its full-year revenue forecast to flat growth and trimmed its operating margin target to 4–5%.
• Porsche CEO Oliver Blume warned that the traditional business model no longer works, launching a second savings package with the works council that could include job cuts despite a dismissal ban until 2029.
• US import tariffs of 27.5% cost Volkswagen €1.3 billion in the first half and have eroded margins on all imported models.
• Porsche will incur up to €1.3 billion in additional e-mobility expenses this year, further squeezing its profitability.