Volkswagen AG Pref (XETR:VOW) reported a H1 2026 profit plunge and cut full‑year revenue outlook, prompting talks to sell its India stake, potential closure of German plants and 50,000–100,000 job cuts, while pivoting to China EV tie‑ups even as European registrations rose in June.
Previous Week Recap
- Profit Slump, 2026 Revenue Trim: Volkswagen AG Pref (VOW) reported H1 2026 after-tax profit plunged over 30% YoY and now expects full-year 2026 revenue below prior guidance, citing U.S. tariffs and tougher global competition.
- Job Cuts, Plant Closures Rumored: Volkswagen AG Pref (VOW) may cut 50,000 more jobs, totalling 100,000, consider closing up to four German plants, and halve its 150-model lineup across Porsche, Audi and Skoda.
- Skoda Auto India Stake Sale Talks: Volkswagen AG (VOW) negotiating sale of stake in Skoda Auto Volkswagen India to JSW Group; talks cover valuation, stake size (JSW may seek majority), capital injection and near‑term timing.
- China-Focused EV Plans Expand: Volkswagen AG Pref (VOW) shifts to China-focused EV plans: local tie-ups with Xpeng and an Audi‑SAIC China EV platform, adapting products and partnerships to counter domestic EV competition.
- European Registrations Rise Again: Volkswagen AG Pref (VOW) saw European vehicle registrations rise in June, with monthly year-over-year gains between 3.6% and 7.3% amid broader regional registration growth.
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