Dramatic quarterly figures for Volkswagen: billions in the red

Volkswagen reported a significant loss of €5.8 billion in the last quarter, following a previous loss of €1.1 billion. Revenue fell by 6.3% to approximately €75.3 billion. The decline is attributed to ongoing issues at Porsche, which wrote off over €6 billion due to reduced sales in China amid fierce competition from local brands and U.S. import tariffs on aluminum and steel. Volkswagen's overall vehicle deliveries dropped by 14%, with a 38.5% decrease in China. The company plans to cut an additional 50,000 jobs and has halted new model production at several German factories, potentially repurposing them for defense.