In after-hours trading on Friday, Volkswagen shares dropped more than 5 percent to 76.5 euros, while Porsche shares fell more than 2.5 percent to 46.0 euros. This has been attributed by insiders to lower profit forecasts linked to expected further deterioration in market conditions—paradoxically caused by a faster shift in demand toward electric vehicles.
What sounds like good news for VW on the surface, in reality means that the auto maker is currently making even less money on electric vehicles than on internal combustion engine models. The Audi and Volkswagen passenger car brands are especially affected. Audi has postponed until at least 2029-2030 its plans for bringing new e-car models to market.
