Volkswagen sees quarterly loss rise to €5.8 billion due to Chinese competition

Volkswagen reported a quarterly loss of €5.8 billion, significantly higher than last year, primarily due to Chinese competition. Exceptional factors totaling €7.8 billion included a €6.4 billion write-down on Porsche assets and a €1 billion loss in China. The company faced a 38.5% drop in vehicle deliveries in China, totaling 405,800 units. Operational loss for the third quarter reached nearly €5.9 billion, with a negative margin of 7.8%. Volkswagen revised its 2026 margin forecast down to a maximum of 1%. The company is undergoing a restructuring program aiming to save €31 billion, potentially affecting up to 100,000 jobs. Revenue for the quarter was €75.3 billion, down 6.3%.