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Porsche cut its profitability guidance on Friday and announced a delay in the launch of some all-electric models

Porsche shares drop after delayed EV launch hits guidance

Shares in Porsche plunged by 4.1% today after the German luxury sports carmaker dialled back the rollout of electric models due to weak demand and slashed its 2025 profitability outlook.

Business • 22 Sep

US tariffs have cost Volkswagen 'billions' so far - CEO

Volkswagen was in advanced talks with the US government over substantial investments in the world's second-largest auto market, where tariffs have cost Europe's top carmaker billions of euros so far this year.

Business • 08 Sep

Porsche AG drops from DAX on falling shares, challenges

Shares in Porsche, the luxury sports car maker majority-owned by Volkswagen, will drop out of Germany's benchmark blue-chip index on September 22, stock exchange operator Deutsche Boerse said today.

Business • 04 Sep

Green Fables: How firms have misled on sustainability

Shein has been hit with two fines relating to its misleading sustainability claims, but there's a long history of firms trying to make themselves look more eco-friendly than they actually were, writes Adam Maguire.

Business • 17 Aug

Porsche SE cuts guidance, eyes bigger defence role

Holding company Porsche, Volkswagen's largest shareholder, has today cut its full-year profit forecast, weighed down by the German automaker's weak first-half performance, while reiterating its plans to invest in the defence sector.

Business • 13 Aug

Volkswagen today reported an operating profit of €3.8 billion in the quarter ended June 30, down 29% on the previous year,

Volkswagen lowers guidance as tariffs hit profit in Q2

Volkswagen has today reported a €1.3 billion first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker's first assessment of the damage from US President Donald Trump's trade war.

Business • 25 Jul

Car sales in the European Union, Britain and the European Free Trade Association fell 5.1% in June from a year earlier, to 1.24 million cars, new figures show today

June European car sales slump as automakers' woes deepen

New car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said today, in a reflection of the global challenges faced by automakers.

Business • 24 Jul

EU Commissioner Stephane Sejourne in a suit walking in front of a flag

EU 'must reduce reliance' on China's rare earth minerals

The diversification of supply of raw materials is important to stay independent in the future, EU Commissioner for Industrial Strategy Stephane Sejourne has said, adding that the EU should reduce its dependency on China regarding rare earth magnets.

Business • 04 Jun

US authorities said the company's cars passed tests while emitting far more pollution in actual driving

Ex-Volkswagen managers convicted over emissions scandal

A German court has convicted four former Volkswagen managers of fraud and handed down prison sentences to two of them for their part in the manipulation of emissions controls.

Business • 26 May

Volkswagen has joined a chorus of car makers warning that US trade policy was making it almost impossible to make financial predictions

Trade tensions, EV costs to weigh on Volkswagen profits

Volkswagen said today that profit margins this year were likely to be towards the bottom of its guidance range and joined a chorus of car makers warning that US trade policy was making it almost impossible to make financial predictions.

Business • 30 Apr

Volkswagen said its group sales rose around 3% to €78 billion in the first quarter of the year

VW quarterly results fall on US tariffs, EU carbon rules

Volkswagen said the uncertainty caused by US President Donald Trump's tariffs was among the factors leading its operating results to plunge to €2.8 billion in the first quarter from €4.6 billion last year.

Business • 10 Apr

Porsche SE has reported a €20 billion after-tax loss because of impairments on its holding of Europe's top carmaker

Porsche SE says looking to diversify investments

Porsche SE, Volkswagen's largest shareholder, plans to expand its investments and diversify its holdings, it said today, after reporting a €20 billion after-tax loss because of impairments on its holding of Europe's top carmaker.

Business • 26 Mar

Volkswagen, BMW electric cars outsell Tesla in Europe

Tesla EV sales in Europe have fallen in February behind legacy brand Volkswagen and the BMW group, as well as rivals from China, data by research platform JATO Dynamics showed today.

Business • 24 Mar

Selling prices for Lamborghini cars start from over €260,000

Lamborghini sees tariff threat to US sales

Potential US tariffs on European-made products could hit revenue at Lamborghini, its CEO said, as the sports carmaker posted strong results for last year, despite a contraction in the luxury market.

Business • 20 Mar

Audi has already cut around 9,500 production jobs since 2019

Audi to cut 7,500 jobs in administration, development

Volkswagen's Audi will cut up to 7,500 jobs in Germany by 2029 in areas like administration and development, the premium carmaker has said, the latest German auto industry player to reduce costs.

Business • 18 Mar

Volkswagen's shares are down by more than 40% over the past four years

Volkswagen sees flat profit margin this year as costs hit

Volkswagen, Europe's top carmaker, expects at best a slight increase in its 2025 operating profit margin, it said, joining rivals in giving a subdued outlook for the year ahead as the sector battles weak demand, high costs and simmering trade tensions.

Business • 11 Mar

Volkswagen's entry-level electric car targeted at Europe

Volkswagen will focus the sales strategy for its €20,000 electric car coming out in 2027 on Europe, its brand chief said, adding the carmaker needed until then to bring down battery costs to sell it at that price.

Business • 06 Mar

Porsche said it will take an €800m hit to profits to launch new combustion engine and plug-in hybrid models this year

Porsche shares tumble as it warns on new models

Porsche AG's shares fell 7% today, the biggest drop among European firms and its worst day since listing on the stock market, after the carmaker warned that the cost of new models and battery-related expenses would dent its 2025 profits.

Business • 07 Feb

Volkswagen CFO Arno Antlitz is attending the World Economic Forum in Davos this week

Volkswagen to make additional investments in US, CFO says

Volkswagen needs to increase investments in the US to hit its market share targets, and cut costs in Europe to achieve profitable growth, its CFO Arno Antlitz said on the sidelines of the World Economic Forum in Davos.

Business • 24 Jan

Renault's market share in Europe overtook Stellantis' for the first month since the Franco-Italian group was established in January 2021

European car sales up by 0.9% in 2024 - ACEA

New car sales in Europe were up by 0.9% in 2024, led by double-digit growth in hybrid car registrations, which exceeded petrol for a fourth consecutive month in December, industry data showed today.

Business • 21 Jan

Friday's agreement, hailed by unions as a "Christmas miracle", calls for more than 35,000 future job cuts

VW shares fall as market struggles to digest unions deal

Volkswagen shares were down 3% in early trade today with analysts citing uncertainty about the automaker's cost-cutting deal with unions and likely headwinds in 2025.

Business • 23 Dec 24

The fifth round of negotiations at Volkswageb has been under way since Monday

Volkswagen and union getting closer to deal, sources say

Volkswagen neared a deal with labour leaders in the company's longest negotiations over pay and jobs, sources said today, but the final outcome was still uncertain as Europe's largest carmaker tries to push through cuts and avert mass strikes.

Business • 20 Dec 24

Talks between Volkswagen and labour leaders have been ongoing since Monday in the hope of reaching an agreement before Christmas

Union signals progress in marathon Volkswagen talks

Volkswagen and labour representatives have made progress in some areas after around 50 hours of talks over German plant closures and pay cuts but remain apart in others, the IG Metall union said in a statement today.

Business • 19 Dec 24

The latest round of talks at Volkswagen kicked off on Monday

VW, unions continue marathon talks over plants, jobs

Crunch talks between Volkswagen and unions over cuts to the car maker's German operations continued today and are expected to last into the night, reflecting intense efforts to strike a deal before Christmas and avert major strikes in 2025.

Business • 18 Dec 24

Volkswagen's factory in Wolfsburg, Germany

VW, unions resume last-ditch round of talks on cost cuts

Volkswagen management and labour representatives will resume high pressure talks this morning over planned cost cuts to the carmaker's German sites after a 13-hour negotiation round yesterday failed to produce an agreement.

Business • 17 Dec 24