German carmaker Audi reported a sharp drop in profits for the third quarter: the Volkswagen division’s net profit fell by 87% to €95 million. This forced the company to lower its revenue forecast for 2026 to €55–59 billion.
Chief Financial Officer Jürgen Rittersberger attributed the decline to several factors: worsening conditions in the Chinese market, where sales of cars with internal combustion engines fell; a 19.7% global reduction in deliveries; and U.S. tariffs, which cost the group €1.2 billion.
Against this backdrop, CEO Gernot Döllner said the company intended to invest around $4 billion in building a plant in the United States, with capacity for 4,500 jobs. However, his speech at a Trump campaign event drew sharp criticism.
The situation is further complicated by internal challenges: Germany plans to cut up to 7,500 jobs by 2029, and a job security guarantee through 2033 is now in question. A day earlier, parent company Volkswagen reported a loss of €5.82 billion.
Chief Financial Officer Jürgen Rittersberger attributed the decline to several factors: worsening conditions in the Chinese market, where sales of cars with internal combustion engines fell; a 19.7% global reduction in deliveries; and U.S. tariffs, which cost the group €1.2 billion.
Against this backdrop, CEO Gernot Döllner said the company intended to invest around $4 billion in building a plant in the United States, with capacity for 4,500 jobs. However, his speech at a Trump campaign event drew sharp criticism.
The situation is further complicated by internal challenges: Germany plans to cut up to 7,500 jobs by 2029, and a job security guarantee through 2033 is now in question. A day earlier, parent company Volkswagen reported a loss of €5.82 billion.
