大众汽车遭遇五年来首次季度亏损

Core Insights - Volkswagen Group reported a revenue of €80.305 billion in Q3, a year-on-year increase of 2.3%, but faced a net loss of €1.072 billion, marking its first quarterly loss in five years [2] - The operating loss for the quarter was €1.299 billion, compared to an operating profit of €2.833 billion in the same period last year, indicating a significant decline [2] - The total vehicle deliveries for Q3 reached 2.199 million units, a 1% increase year-on-year, while total sales for the first three quarters amounted to 6.518 million units, up 1.8% [2] Financial Performance - The net profit for Volkswagen Group in the first three quarters dropped by 61.5% to €3.4 billion compared to the same period last year [3] - The decline in profitability is attributed to increased production of low-margin electric vehicles and an additional burden of €7.5 billion, including U.S. import tariffs and strategic adjustments at Porsche [3] - Excluding these additional costs, the profit margin for the first three quarters was 5.4%, while including the costs resulted in a negative profit margin of 1.6% [3] Challenges and Strategic Adjustments - Volkswagen is facing challenges in its electric vehicle transition, having set a cost-cutting plan to save €10 billion by 2026 and aiming for an operating profit margin of 6.5% [4] - The company anticipates an operating profit margin between 2% and 3% for the year, with revenue expected to remain flat compared to last year [5] - Porsche, once a significant profit contributor, reported its first quarterly loss since going public, with additional expenses from strategic restructuring amounting to €2.7 billion in the first three quarters of 2025 [3]