Transportation
Volkswagen Earnings Plunge 40% as US Tariffs Cloud Outlook
An Autostadt Delivery Tower at the Volkswagen headquarters in Wolfsburg, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Volkswagen AG’s earnings dropped by 40% in the first quarter as higher manufacturing costs cut into margins and US tariffs clouded the German carmaker’s outlook.
Earnings before tax came in at €3.1 billion ($3.5 billion) in the three months through March, down from €5.1 billion a year earlier, the company said Wednesday. Group operating margin fell to 3.7% from 6%.