Volkswagen reported a significant decline in profitability during the third quarter of 2026, posting a net loss of approximately 5.82 billion euros. This result represents a considerable worsening compared to the same period last year, when the company had reported a loss of just over 1.07 billion euros.
The main drivers for the deficit, according to the manufacturer, were extraordinary items totaling 7.8 billion euros. Specifically, a major impairment charge against the company value of its subsidiary, Porsche, had a heavily negative impact on the operating result. This write-down amounted to roughly 6.4 billion euros; although this expense was non-cash and therefore did not affect liquidity, it severely impacted Volkswagen’s operating figures. Furthermore, poor market conditions in China, rising global price and competition pressure, and the greater proportion of lower-margin electric vehicles all negatively influenced the overall financial outcome.
The group’s revenue also decreased in the third quarter, dropping by 6.3 percent to reach approximately 75.28 billion euros.
Sales figures also showed a downturn. From July to September, Volkswagen delivered 1.89 million vehicles, marking a decrease of nearly 14.3 percent compared to the previous year. The pressure was particularly severe in the crucial Chinese market, where deliveries fell by 38.5 percent to just under 406,000 vehicles. As of the end of September, the group had handed over a total of over 6 million vehicles to customers, which represents a 9 percent decline year-on-year.
