The U.S. Department of Justice has charged two Volkswagen engineers with securities fraud for an alleged insider-trading scheme connected to the German automaker's joint venture with Rivian.
Volkswagen ETR: VOW3 reported lower first-half vehicle deliveries and weaker profit as sharply declining demand in China, U.S. tariff costs and intense competition weighed on results, while management said stronger cash generation and a growing European electric-vehicle order book showed signs of resilience.
Volkswagen reported weaker-than-expected second-quarter earnings on Friday and abandoned its forecast for revenue growth this year, underscoring the mounting pressure on Europe's largest automaker as it accelerates one of the biggest restructuring efforts in its history. The German carmaker posted lower operating profit despite stronger-than-expected revenue, while warning that geopolitical tensions, trade conflicts and fierce competition from Chinese electric vehicle makers continue to weigh heavily on its business.
The automaker now expects full-year sales to land somewhere between flat and a 3% decline, having previously guided for flat to 3% growth.
German auto giant Volkswagen on Friday reported weaker-than-expected second-quarter profit and revised down its sales forecast for 2026.
Volkswagen revised down its sales forecast for 2026 on Friday, now expecting a decline of up to 3%, after its operating profit slumped in the second quarter.
Volkswagen's Carizon is deepening its partnership with Horizon Robotics to accelerate development of advanced automated driving technology.
Volkswagen said on Wednesday its China-based automated driving unit CARIZON will deepen its partnership with Horizon Robotics to speed up development of Level 3 and Level 4 self-driving technologies.
The works council of German carmaker Volkswagen said on Friday it will host extraordinary staff assemblies in August with CEO Oliver Blume, giving workers the opportunity to grill him on management plans to radically overhaul the company.
Volkswagen's autonomous mobility arm, Moia, is launching a pilot robotaxi service in Hamburg. The company said it will start with 10 VW ID.
An internal memo reveals Volkswagen faces a 20% cost disadvantage, with up to 100,000 total job cuts now under consideration across all brands.
German automaker seeking to cut costs amid growing competition from China.