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2025-10-31 16:53:34
German automaker Volkswagen Group released its financial report on October 30, showing that the US tariffs could cause the company losses of up to €5 billion for the year. Recently, several German automakers stated in their financial reports that the significant increase in US tariffs on imported automobiles has had a substantial impact on their performance this year. Volkswagen's report shows that the company's operating profit for the first nine months of this year was €5.4 billion, a year-on-year decrease of 58%, with an operating loss of €1.3 billion in the third quarter. Volkswagen Group's Chief Financial Officer and Chief Operating Officer, Arnault Antlitz, stated that a major reason for the decline in the group's operating profit was the US tariffs, and he expects the related impact to continue. The report also shows that in the first three quarters of this year, Volkswagen's global sales reached 6.58 million vehicles, a year-on-year increase of 1.8%, with sales in the North American market declining by 11%. (CCTV News)
