The profit of the Volkswagen Group fell by more than a quarter in the first quarter of 2026. announced at a press conference in Wolfsburg Europe largest car manufacturer, the group result after taxes in the months January to March was around 1.56 billion euros. Compared to the first quarter of 2025, this is a decrease of 28.4 percent. At that time, VW still earned 2.19 billion euros, although this figure was already 41 percent below the previous year.
Sales also fell by 2.5 percent to 75.7 billion euros. At 3.3 percent, the operating return on sales was 0.4 percentage points lower than a year ago. “Wars, geopolitical tensions, trade barriers, stricter regulations and tough competition are creating headwinds,” said CEO Oliver Blume.
“The planned cost reductions are not enough”
Even adjusted for special effects, the margin is at a “much too low level,” admitted VW finance chief Arno Antlitz. In the past year and a half, the world has “changed significantly”: tariffs have been added, competition in China is becoming more intense and Chinese suppliers are increasingly exporting to Europe. »In this environment, the planned cost reductions are not enough. We have to fundamentally change our business model and achieve structural, sustainable improvements,” said Antlitz.
Antlitz also wants to reduce its range of vehicles in the future. Volkswagen In the coming months, he wants to improve the cost structure of the vehicles, reduce costs “significantly”, increase the efficiency of the plants and accelerate development and decision-making. Volkswagen boss Blume said that VW would make products, technologies and value creation “even more regional”.
Weak numbers also at Porsche and Traton
Worldwide, the number of deliveries of all Group brands between January and March was only around two million vehicles, seven percent less than a year earlier. Deliveries fell particularly in China and North America, but growth in Europe could not compensate for this.
The consolidated result was also impacted by the weak figures that Porsche presented the evening before. From January to March, the sports car manufacturer’s profit after taxes fell by almost a quarter. The truck subsidiary Traton with the MAN and Scania brands also reported a significant drop in profits due to high special effects. In order to save costs, VW wants to cut a total of 50,000 jobs by 2030.