Volkswagen Posts €5.8bn Q3 Loss, Worst Since Dieselgate, as China Deliveries Plunge 40%

Volkswagen reported a third-quarter 2026 loss of €5.8bn ($4.9bn), its worst quarterly result since the 2015 Dieselgate scandal, as global vehicle deliveries fell 14% and China sales dropped 40%. The German automaker said it is running out of time to execute a turnaround. The loss widened from €1.1bn a year earlier and included a €6.4bn write-down on the value of its Porsche unit. CEO Oliver Blume's restructuring plan, which could cut up to 100,000 jobs and close as many as four German plants, faces union opposition and possible strikes next year. Finance chief Arno Antlitz said the company must focus on "swift and consistent implementation," adding: "We cannot lose any time and need to act quickly and decisively." U.S. tariffs imposed by Donald Trump and a growing share of lower-margin EVs in VW's order book also weighed on margins, the company said.