Volkswagen Swings to $6.5 Billion Loss on China Slump, Porsche Charges

WHO:

ABC News World - Volkswagen reported the quarterly results.

ABC News Business - Volkswagen reported the quarterly results.

IJR - Volkswagen reported the results; the article identifies Porsche as a source of a major goodwill write-down.

Jalopnik - Volkswagen, described as Europe’s largest automaker and the world’s second-largest automaker, reported the results. The group includes Audi and Porsche.

Jalopnik - CEO Oliver Blume planned to cut 100,000 jobs across the group. Volkswagen executive Antlitz said, “That is not enough in the long term,” referring to the operating return on sales margin.

Jalopnik - A Volkswagen spokesperson said the results made clear “there’s no time to lose.”

WHAT:

ABC News World - Volkswagen posted a $6.5 billion after-tax loss for the July–September quarter.

ABC News Business - Volkswagen posted a $6.5 billion after-tax loss for the July–September quarter.

IJR - Volkswagen reported a €5.82 billion third-quarter net loss, alongside €7.8 billion in one-off charges.

Jalopnik - Volkswagen posted a $6.6 billion operating loss for the quarter, its largest quarterly deficit since the fourth quarter of 2015.

Jalopnik - The operating loss was affected by about $8.9 billion in one-off items, most linked to a writedown of Volkswagen’s stake in Porsche.

Jalopnik - Volkswagen’s operating return on sales margin was 3.8% in the first nine months of the year, before one-off items. The company targets an 8%–10% operating profit margin by 2030 under its restructuring program.

Jalopnik - Volkswagen had flagged about $11.1 billion in one-off costs and cut its 2026 profit-margin forecast to no more than 1%; the article says the margin had approached 8% in 2022.

WHERE:

IJR - Volkswagen faced weak demand and intensifying competition in China, and pressure on electric-vehicle margins.

Jalopnik - Volkswagen faces competition in China and investment demands from Europe’s transition to electric vehicles; Chinese rivals are gaining ground in Europe.

Jalopnik - Up to four Volkswagen plants in Germany faced possible closure under the restructuring plan.

WHY:

ABC News World - The loss was weighed down by a China slump and Porsche writedown.

ABC News Business - The loss occurred amid a China slump and Porsche writedown.

IJR - One-off charges, including a major Porsche goodwill write-down, compounded weak Chinese demand, intensifying competition, tariffs, and pressure on electric-vehicle margins.

Jalopnik - The results highlighted pressure to overhaul Volkswagen’s business model amid fierce Chinese competition, billions of euros in annual tariff costs, and heavy investment needs for the electric-vehicle transition.

HOW:

IJR - Volkswagen maintained its full-year outlook despite the reported loss and charges.

Jalopnik - The restructuring plan included a proposed 100,000 job cuts and possible closure of up to four German plants; the plan faced strong union opposition and could trigger strikes from early next year.

(UPDATED October 29, 2026 22:03 UTC)

Volkswagen posted a $6.5 billion after-tax loss for the July-to-September quarter, weighed down by a major Porsche writedown and weak demand in China. The automaker also reported a $6.6 billion operating loss, with one-off charges tied to Porsche and other costs, while maintaining its full-year outlook. CEO Oliver Blume’s restructuring plan calls for 100,000 job cuts and could close up to four plants in Germany, drawing strong union opposition.