Volkswagen Posts EUR 5.82 Billion Quarterly Loss While Holding Its Full-Year Guidance Steady
Published on 10/29/2026 at 10:40 | Editorial boerse-global.de
Volkswagen absorbed a net loss of EUR 5.82 billion in the third quarter of 2026, the Wolfsburg-based automaker reported, yet left its guidance for the full year untouched. The deficit stemmed largely from special items rather than a collapse in day-to-day operations, and the group reaffirmed its expectation of roughly EUR 315 billion in revenue for 2026 with an operating margin of up to 1%.
Revenue for the quarter fell 6.3% to EUR 75.28 billion. Over the first nine months of the year, operating profit came in at just EUR 71 million, a steep drop from the EUR 5.41 billion booked in the same period a year earlier. Special items accounted for EUR 8.7 billion across those nine months, with EUR 7.8 billion of that total landing in the third quarter alone.
JPMorgan, according to media reports, kept its "Neutral" rating on the stock following the release, holding its price target at EUR 110.
China Headwind Sets the Tone
The scale of the challenge in Volkswagen's largest market was laid out by China chief Ralf Brandstätter, who told Handelsblatt that the group could still be selling around 2.2 million vehicles a year there by 2030. Deliveries in China dropped 30% to fewer than 1.4 million units in the first nine months of 2026, the paper reported.
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That decline sits alongside a broader reassessment of costs. Volkswagen has said it wants relief on labour expenses as quickly as possible. The company and IG Metall agreed on 23 October to open talks on 24 November in Emden, with a second session scheduled for 15 December in Zwickau. NDR reported that the 23 October discussions closed without agreement, with Volkswagen determined to press ahead with the termination of ten collective agreements. IG Metall, the broadcaster said, is bracing for a confrontation around the turn of the year, when the peace obligation expires.
The lowered guidance issued on 18 September remains the benchmark: revenue of about EUR 315 billion, an operating margin of up to 1%, and special effects totalling roughly EUR 10 billion. Net cash flow in the automotive division is still projected at EUR 3 billion to EUR 6 billion.
Chip Deal and Logistics Pilot Round Out the Week
Beyond the numbers, Volkswagen has been busy on the technology and operations front. On Monday it struck a strategic semiconductor partnership with NXP Semiconductors, under which microcontrollers from NXP's S32K5 family will form part of the group's future zonal software-defined vehicle architecture.
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A day earlier, Volkswagen, Deutsche Telekom, Unikie and BIBA wrapped up AutoLog, an innovation project running more than two years that tested automated vehicle movements under real-world logistics conditions at the port of Emden. Volkswagen also said it is drawing technical development, procurement and its supplier ecosystem closer together, an approach it is showcasing at the IZB trade fair through five "Group Hubs."
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