Volkswagen swings to 1.3-billion euro loss in Q3 on tariff, Porsche woes
30/10/2025 06:30
BERLIN, Oct 30 (Reuters) - Volkswagen VOWG_p.DE made a 1.3-billion-euro ($1.52 billion) operating loss in the third quarter, hit by billions of euros in costs from U.S. tariffs and a costly strategy reversal on electric vehicles at its subsidiary Porsche P911_p.DE, the company said on Thursday. The result, down from a 2.8-billion-euro operating profit for the group a year earlier, was less severe than the 1.7-billion-euro loss forecast by analysts in a poll by Visible Alpha. Overall, tariffs as well as costs and writedowns relating to the product overhaul at Porsche led to 7.5 billion euros in charges for Volkswagen in the period ended September 30, while the transition to EVs also weighed on profitability, it said. ($1 = 0.8575 euros) (Reporting by Rachel More, editing by Kirsti Knolle) ((rachel.more@thomsonreuters.com;))