Volkswagen drops revenue growth outlook, now sees up to 3% decline as tariffs and China competition bite
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Volkswagen scrapped its full-year revenue growth forecast and now expects up to a 3% decline, citing tariff-driven cost pressure and intensifying China competition. A 9.5% YoY drop in Q2 operating profit and plans for major job cuts underscore margin stress across legacy European autos amid EV transition and geopolitics. The news is negative for German/European equity sentiment and cyclical exposure.
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Volkswagen has withdrawn its full-year revenue growth forecast and now expects sales revenue to fall by as much as 3%, citing rising tariff costs and intensifying competition from China. The automaker reported second-quarter operating profit of €3.5 billion, down 9.5% from a year earlier. Chief executive Oliver Blume is pushing a restructuring plan that includes proposals to cut about 100,000 jobs to improve cost competitiveness. The shift underscores the earnings pressure on German carmakers as they face electrification challenges alongside geopolitical and trade headwinds.
