Volkswagen Reports Widening Q3 Loss and Reaffirms Restructuring Plans

Volkswagen reported a widening attributable loss and lower revenue in the third quarter and first nine months, while reaffirming its full-year guidance, which it cut in September after about €10 billion in impairment charges tied to its Porsche stake, weak market conditions in China and restructuring costs. Management reiterated the need to implement cost cuts quickly, including a previously approved workforce reduction and halving the model portfolio. The company faces U.S. tariffs, stronger competition from Chinese automakers and a difficult Chinese market, where it expects profits to be around break-even this year.