Volkswagen loss widens more than expected in Q3, raising restructuring stakes

Volkswagen tumbled further into the red in the third quarter, signalling a deepening crisis at the world's second-largest carmaker, which is battling seismic challenges across key markets as it ‌embarks on a major restructuring. Europe's top automaker reported an operating loss of €5.9 billion ($6.59 billion) ‌during the three-month period. Visible Alpha analysts had forecast a €2.6 billion loss, following a €1.3 billion loss a year earlier.

"The nine-month results make one thing clear: We cannot afford to lose any time. ⁠We must ​act quickly and ⁠decisively," finance chief Arno Antlitz said in a video statement. Sales revenue also fell by a stronger-than-forecast 6% during ⁠the third quarter to €75.3 billion.

The results underscore the pressure on Volkswagen to overhaul its business ​model in the face of brutal competition in China, billions in annual tariff ⁠costs and a costly ramp-up of EVs in Europe, where Chinese rivals are also making gains. CEO ⁠Oliver ​Blume plans 100,000 job cuts across the company, which includes the Audi and Porsche brands. Up to four plants in Germany face closure under his plan, ⁠which has been met with fierce opposition from unions and possible strikes from early next year.

Last ⁠month, Volkswagen ⁠flagged €10 billion in one-off costs, mostly linked to problems at Porsche, while slashing its 2026 profit margin forecast to a maximum of ‌1%. ($1 = 0.8959 ‌euros)