On Tuesday morning, the automaker disclosed its financial results for the first quarter of 2026. Group revenue stood at €75.7 billion, representing a 2% decrease compared to the previous year. Furthermore, the operating profit fell significantly by approximately 14%, reaching €2.5 billion.
Vehicle sales saw a drop of 7%, totaling 2.0 million units. The decline in operating earnings was primarily attributed to “special effects” within the Brand Group Core and Brand Group Trucks, alongside increased U.S. tariffs.
Sales shortages were particularly steep in China (-20%) and North America (-9%). While gains were reported in South America (+3%), Western Europe (+1%), and Central and Eastern Europe (+7%), these regional increases were not sufficient to counteract the major losses.
Volkswagen noted that the overall revenue decline was partially offset by strong performance in Europe and continued growth in its financial services sector. The only positive highlight was the European order backlog, which increased by about 15% compared to the end of 2025.
Looking forward, the Volkswagen Group expects its total revenues for the full year 2026 to demonstrate growth within the range of 0% to +3% compared to the preceding year.