Deportations from Germany have risen slightly compared to last year. At the same time, Volkswagen reported a significant decline in second-quarter profits, dropping to nearly 2.3 billion euros, a 36.3% decrease year-on-year. The company attributed this decline primarily to US tariffs, rising production costs, and lower profit margins from electric vehicle sales. Volkswagen plans to cut 35,000 jobs by 2030 as part of its restructuring strategy, which is deemed critical in an increasingly challenging business environment, despite expectations of solid order books.
Volkswagen has posted a sharp drop in second-quarter profits, citing US tariffs, rising production costs, and an increase in sales of electric vehicles with a smaller profit margin.
Volkswagen profits dropped to just under 2.3 billion ($2.7 billion) in the second quarter of 2025, a 36.3% decrease on the same period last year.
Chief executive Oliver Blume insisted that Volkswagen is operating in an 'extremely challenging environment', while finance director Arno Antlitz said the results were actually 'at the higher end' of the company's expectations.
Volkswagen is expecting to cut 35,000 jobs by 2030, as they stick to their restructuring plans which they intend to implement decisively and accelerate where necessary.
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