Volkswagen reports quarterly results, Porsche and US slow down

On 30 April 2026, Volkswagen posted first-quarter profit down 28 percent. Porsche and the US slowed, and the company faces Chinese competition and US tariffs. Volkswagen signals further cost cuts and targets a cut in European production.

Volkswagen is weighing Chinese models for Europe and has launched cheaper electric cars to rival Chinese carmakers. Egypt targets making 100,000 cars a year by 2030 in talks with Volkswagen.