Volkswagen, Germany’s leading carmaker, reported its 2025 consolidated earnings after taxes to have fallen by 44%—from €12.4 billion to €6.9 billion. Revenue fell by 0.8% to just under €322 billion. In terms of sales, the VW Group slipped to 8.98 million cars—0.5% less than a year earlier.
VW cites as the main reason for the result the burdens on its subsidiary Porsche, due to the “strategic shift” (actually more of an emergency brake pulled—ed.) toward extending combustion engine models, which had an impact on the parent company and weighed on the balance sheet with almost €5 billion. In addition, charges of around €3 billion were due to U.S. tariffs. In North America, the group sold 12% fewer cars than in the previous year.
