Volkswagen CEO: U.S. tariffs cost company ‘several billion euros’

Volkswagen Group CEO Oliver Blume said Monday that U.S. tariffs have already cost the automaker several billion euros, with the luxury Porsche brand particularly hard hit.

Speaking at the IAA Munich auto show, Blume described Porsche as being caught in a “sandwich” between high duties and a weak Chinese market.

Volkswagen has so far disclosed a 600-million-euro hit to Audi and a 300-million-euro loss for Porsche in 2025. Both brands have no U.S. production, making them vulnerable to import tariffs.

Blume noted ongoing discussions with the U.S. government regarding tax breaks and potential local production for Audi, a decision expected by year-end. He also confirmed that his dual role as CEO of Volkswagen and Porsche remains under review.

 

News.Az