# Volkswagen Group: earnings plunge and major restructuring > Volkswagen Group posted a 98.7% decline in operating income for January-September 2026, weighed down by 8.7 billion euros in exceptional items linked notably to Porsche, weakness in the Chinese market, and US tariffs, with deliveries down 9% to 6.011 million units. The group is launching a cost-cutting and restructuring plan, including plant closures in Germany and capacity reductions in China, while accelerating on electric vehicles despite lower margins than internal combustion models. The sub-events show contrasting situations: in Brazil, Volkswagen returns to profit and its plants are spared the cuts, while in Spain a plant is considering conversion to vehicle dismantling and in Poland a site is highlighting a mega solar farm. **In brief**: Ongoing story bringing together 18 events involving Volkswagen, Volkswagen Group, Cupra and 2 more, in 6 countries (Allemagne, Chine, Espagne and 3 more), followed from 30 October 2026 to 2 November 2026. 43 articles from 18 sources (plants, jobs and earnings, electric and batteries, sales and market); last updated on 2 November 2026 at 02:28. Figures reported: 375 vehicles, 100000 jobs. - Status: ongoing - Scope: International - Category: Plants, jobs and earnings, Electric and batteries, Sales and market - Countries: Allemagne, Chine, Espagne, Brésil, Pologne, États-Unis - Brands: Volkswagen, Volkswagen Group, Cupra, Porsche, SEAT - First detected: 30 October 2026 at 01:00 - Updated: 2 November 2026 at 02:28 - Web page: https://mecapress.com/stories/34-volkswagen-group-earnings-plunge-and-major-restructuring ## National stories (9) - Spain — 1 country-specific event, 2 articles - Brazil — 0 country-specific event, 5 articles - China — 0 country-specific event, 4 articles - Germany — 0 country-specific event, 3 articles - France — 0 country-specific event, 3 articles - United States — 0 country-specific event, 2 articles - Italy — 0 country-specific event, 2 articles - South Korea — 0 country-specific event, 2 articles - Vietnam — 0 country-specific event, 2 articles ## Reported figures - 5,82 miliardi di euro - 31 billion euros - 4.33 billion euros - 4.72 billion euros - 106.4 billion euros ## What is established _“Confirmed” = reported by at least two independent outlets (outlets of the same group count as one). AI cross-check of the collected headlines and extracts._ **Confirmed by several sources** - Brand Group Core operating income stands at 4.33 billion euros over nine months, with a margin of 4.1%. (1 independent sources: [Volkswagen (salle de presse)](https://www.volkswagen-newsroom.com/en/press-releases/brand-group-core-holds-its-own-in-a-difficult-environment-special-items-significantly-impact-overall-result-20800)) - Volkswagen's chief financial officer says electric models generate lower margins than internal combustion models. (4 independent sources: [carmag.co.za](https://www.carmag.co.za/news/industry-news/volkswagen-confirms-it-is-struggling-to-make-electric-cars-profitable/), [motor1.uol.com.br](https://motor1.uol.com.br/news/813894/volkswagen-eletricos-lucro-volume-combust%C3%A3o/), [osegi.com](https://osegi.com/en/volkswagen-admits-evs-earn-less-than-combustion-cars), [Vietnam.vn](https://www.vietnam.vn/en/volkswagen-thua-nhan-xe-dien-mang-lai-loi-nhuan-thap-hon-xe-xang)) - Results include 8.7 billion euros in exceptional items linked notably to Porsche, China, and US tariffs. (3 independent sources: [autoherald.co.kr](http://www.autoherald.co.kr/news/articleView.html?idxno=62039), [autodaily.co.kr](https://www.autodaily.co.kr/news/articleView.html?idxno=601651), [business-news-today.com](https://business-news-today.com/volkswagen-profit-collapses-99-as-e8-7bn-charges-expose-the-cost-of-its-ev-transition/)) - Volkswagen Group operating income fell 98.7% in the first nine months of 2026. (2 independent sources: [autoherald.co.kr](http://www.autoherald.co.kr/news/articleView.html?idxno=62039), [autodaily.co.kr](https://www.autodaily.co.kr/news/articleView.html?idxno=601651)) - Revenue for the first nine months of 2026 reaches 233.378 billion euros, down 2.2%. (2 independent sources: [autodaily.co.kr](https://www.autodaily.co.kr/news/articleView.html?idxno=601651), [Moomoo](https://news.google.com/rss/articles/CBMiXEFVX3lxTFBKajlsSlZnamwzdWNyZWxHUEJpOFl1U1hlYVNwdThMdkgtZzROUDdhSno1MHBxcGZDd2ZmSnNOMEhNQU44bnIzQ3VQamxJUnN0Q3I1Ny1iTmIyd0tJ?oc=5)) - Global deliveries reach approximately 6.011 million vehicles and sales 5.88 million over nine months, down 10.6%. (2 independent sources: [autodaily.co.kr](https://www.autodaily.co.kr/news/articleView.html?idxno=601651), [diiica.org](https://diiica.org/article/volkswagen-group-reports-6-million-vehicle-deliveries-through-september)) - Volkswagen and IG Metall have opened negotiations in Hanover on plant closures, wage cuts, and employment. (2 independent sources: [ad-hoc-news.de](https://www.ad-hoc-news.de/boerse/news/corporate-news/volkswagen-stock-faces-restructuring-test-after-deep-quarterly-loss/70438122), [dasdeutscheblatt.com](https://dasdeutscheblatt.com/volkswagen-and-ig-metall-begin-critical-talks-over-plant-closures-and-jobs)) - Volkswagen plans to close four plants in Germany and cut 50,000 jobs. (2 independent sources: [Notícias Automotivas](https://www.noticiasautomotivas.com.br/mesmo-com-o-avanco-das-marcas-chinesas-volkswagen-volta-a-lucrar-no-brasil-e-ve-suas-fabricas-protegidas-dos-cortes-previstos-na-alemanha/), [amk.news](https://amk.news/article/volkswagen-initiates-historic-factory-closures-in-germany-amid-financial-crisis)) **Sources disagree** - Operating income for the first nine months of 2026: Operating loss of 5.86 billion euros, margin of -7.8% according to [robotbelt.com](https://robotbelt.com/volkswagen-booked-a-eur-5-9-billion-nine-month-loss-and-put-11/) ; Result close to break-even, with operating profit of 71 million euros according to [defenseworld.net](https://www.defenseworld.net/2026/10/31/what-volkswagen-vow3-said-on-its-q3-earnings-call.html), [business-news-today.com](https://business-news-today.com/volkswagen-profit-collapses-99-as-e8-7bn-charges-expose-the-cost-of-its-ev-transition/), [zolmax.com](https://zolmax.com/investing/what-volkswagen-vow3-said-on-its-q3-earnings-call/12057559.html) - Period of the 5.86 billion euro operating loss: Third quarter according to [The Auto Wire](https://theautowire.com/2026/10/31/volkswagen-q3-2026-operating-loss-antlitz-cost-cuts-tariffs-ev-margins/) ; First nine months according to [robotbelt.com](https://robotbelt.com/volkswagen-booked-a-eur-5-9-billion-nine-month-loss-and-put-11/) **Single source so far** - Third quarter 2026 ends with a net loss of 5.82 billion euros. (according to [automoto.it](https://www.automoto.it/news/volkswagen-conti-in-profondo-rosso-nel-2026-perdita-da-58-miliardi-nel-terzo-trimestre.html)) - Volkswagen posts an operating loss of 5.86 billion euros over nine months, with a margin of -7.8%. (according to [robotbelt.com](https://robotbelt.com/volkswagen-booked-a-eur-5-9-billion-nine-month-loss-and-put-11/)) **Updates** - 2 November 2026 at 02:02: A Volkswagen plant in Spain could be converted to vehicle dismantling. - 2 November 2026 at 02:02: Volkswagen is considering discontinuing the Seat brand in favor of Cupra. - 2 November 2026 at 02:02: Volkswagen suspends development of its future flagship model for financial reasons. - 1 November 2026 at 19:01: New figure: SEAT & CUPRA posts operating income of 6 million euros over nine months. - 1 November 2026 at 19:01: New figure: vehicle sales of 5.88 million over nine months, down 10.6%. - 1 November 2026 at 19:01: New figure: net loss of 5.82 billion euros in third quarter 2026. - 1 November 2026 at 13:55: New figure: Brand Group Core operating income of 4.33 billion euros, margin of 4.1%. - 1 November 2026 at 13:55: New figure: deliveries of approximately 6.011 million vehicles over nine months. - 1 November 2026 at 13:55: New figure: revenue of 233.378 billion euros over nine months, down 2.2%. - 1 November 2026 at 06:23: Possible postponement to 2027 of approval of the 135 billion euro investment plan. ## Sources by country and language - unknown: 14 articles, 14 outlets - Brazil: 5 articles, 4 outlets - China: 4 articles, 4 outlets - Germany: 3 articles, 3 outlets - France: 3 articles, 3 outlets - Spain: 2 articles, 2 outlets - Italy: 2 articles, 2 outlets - South Korea: 2 articles, 2 outlets - United States: 2 articles, 1 outlets - Vietnam: 2 articles, 1 outlets - United Kingdom: 1 articles, 1 outlets - Philippines: 1 articles, 1 outlets - Romania: 1 articles, 1 outlets - South Africa: 1 articles, 1 outlets **Languages**: English (22), Portuguese (5), Chinese (4), Spanish (3), French (3), Italian (2), unknown (2), Korean (2) ## Timeline (18 events) ### 30 October 2026 — [Volkswagen Brand Group Core posts lower operating result over nine months](https://mecapress.com/events/7-volkswagen-brand-group-core-posts-lower-operating-result-over-nine-months.md) The Brand Group Core closes the first nine months of 2026 with an operating result of 4.33 billion euros, against 4.72 billion a year earlier. The margin falls to 4.1% for 3.75 million vehicles sold. 2 sources, 2 articles · Worldwide (Allemagne) ### 30 October 2026 — [SEAT et CUPRA dégagent 6 millions d'euros de profit sur neuf mois](https://mecapress.com/events/1485-seat-et-cupra-degagent-6-millions-d-euros-de-profit-sur-neuf-mois.md) SEAT & CUPRA affichent un résultat opérationnel de 6 millions d'euros sur les neuf premiers mois de 2026. 1 sources, 1 articles · Espagne ### 30 October 2026 — [Volkswagen suspend le développement de son futur modèle phare](https://mecapress.com/events/1372-volkswagen-suspend-le-developpement-de-son-futur-modele-phare.md) Faute de moyens financiers, Volkswagen interrompt le développement de son futur modèle phare, nouvelle conséquence de ses difficultés économiques. 3 sources, 3 articles · Wolfsburg — Allemagne ### 31 October 2026 — [Volkswagen Group : résultat opérationnel en chute de 98,7 % sur neuf mois](https://mecapress.com/events/967-volkswagen-group-resultat-operationnel-en-chute-de-98-7-sur-neuf-mois.md) Le groupe Volkswagen affiche sur janvier-septembre 2026 un résultat opérationnel en recul de 98,7 %, plombé par 8,7 milliards d'euros d'éléments exceptionnels liés notamment à Porsche, la faiblesse du marché chinois et les droits de douane américains. Les livraisons reculent de 9 % à 6,011 millions d'unités. 5 sources, 9 articles · Worldwide (Allemagne, Chine, États-Unis) ### 31 October 2026 — [Volkswagen pourrait reporter à 2027 la validation de son plan d'investissement de 135 milliards d'euros](https://mecapress.com/events/866-volkswagen-pourrait-reporter-a-2027-la-validation-de-son-plan-d-investissement.md) Selon la presse, Volkswagen pourrait n'approuver qu'en 2027 son plan d'investissement quinquennal de 135 milliards d'euros. Ce report s'inscrit dans les efforts d'économies du groupe. 1 sources, 1 articles · Allemagne ### 31 October 2026 — [Volkswagen Group announces about 6 million deliveries in nine months](https://mecapress.com/events/909-volkswagen-group-announces-about-6-million-deliveries-in-nine-months.md) The Volkswagen Group delivered approximately 6 million vehicles worldwide in the first three quarters of 2026, in a market with contrasting performance across regions. 1 sources, 1 articles · Worldwide (Allemagne) ### 31 October 2026 — [A Spanish Volkswagen plant considers switching from assembly to vehicle dismantling](https://mecapress.com/events/553-a-spanish-volkswagen-plant-considers-switching-from-assembly-to-vehicle.md) Facing closure risk, a Volkswagen plant in Spain is considering converting its activity toward vehicle dismantling rather than assembly. 1 sources, 1 articles · Espagne ### 31 October 2026 — [Volkswagen in the red in the third quarter and speeds up savings measures](https://mecapress.com/events/60-volkswagen-in-the-red-in-the-third-quarter-and-speeds-up-savings-measures.md) The Volkswagen Group calls for accelerating its savings measures after a heavy net loss in the third quarter, largely linked to its difficulties in the Chinese market. 4 sources, 7 articles · Wolfsburg — Allemagne, Chine ### 31 October 2026 — [Volkswagen returns to profit in Brazil, its plants spared by cuts in Germany](https://mecapress.com/events/332-volkswagen-returns-to-profit-in-brazil-its-plants-spared-by-cuts-in-germany.md) Volkswagen returns to profit in Brazil as the group plans to close four plants and cut 50,000 jobs in Germany. Brazilian engineering is gaining weight in the brand's global projects. 2 sources, 3 articles · Brésil, Allemagne ### 31 October 2026 — [Volkswagen considering ending Seat brand in favor of Cupra](https://mecapress.com/events/432-volkswagen-considering-ending-seat-brand-in-favor-of-cupra.md) According to a German media outlet, the Volkswagen Group could drop the Seat brand and concentrate its resources on Cupra, whose sales are rising. 1 sources, 1 articles · Allemagne, Espagne ### 31 October 2026 — [Volkswagen considers up to 100,000 job cuts, mega solar farm in Poland](https://mecapress.com/events/222-volkswagen-considers-up-to-100-000-job-cuts-mega-solar-farm-in-poland.md) The Volkswagen Group mentions up to 100,000 job cuts while its Polish site in Września highlights a mega solar farm grazed by sheep, a contrast between social crisis and green showcase. 2 sources, 2 articles · Września — Allemagne, Pologne ### 1 November 2026 — [Volkswagen et IG Metall ouvrent des négociations sur les fermetures d'usines et l'emploi](https://mecapress.com/events/1008-volkswagen-et-ig-metall-ouvrent-des-negociations-sur-les-fermetures-d-usines-et.md) Volkswagen et le syndicat IG Metall ont entamé à Hanovre des négociations sur d'éventuelles fermetures de sites, des baisses de salaires et l'avenir de dizaines de milliers d'emplois. 1 sources, 1 articles · Hanovre — Allemagne ### 1 November 2026 — [Volkswagen progresses with restructuring to preserve profitability](https://mecapress.com/events/758-volkswagen-progresses-with-restructuring-to-preserve-profitability.md) Volkswagen management and employee representatives are working on cost-cutting measures amid growing electric vehicle competition. The stated goal is to protect the group's profitability. 1 sources, 1 articles · Allemagne ### 1 November 2026 — [Volkswagen réduit ses capacités de production en Chine](https://mecapress.com/events/1221-volkswagen-reduit-ses-capacites-de-production-en-chine.md) Volkswagen ferme certains sites de production en Chine pour s'adapter à la concurrence des constructeurs électriques locaux et à la faiblesse de ses performances sur le premier marché mondial. 1 sources, 2 articles · Chine, Allemagne ### 1 November 2026 — [Volkswagen face à la concurrence chinoise et à un plan d'ajustement sévère](https://mecapress.com/events/1869-volkswagen-face-a-la-concurrence-chinoise-et-a-un-plan-d-ajustement-severe.md) Pertes, usines menacées et retard dans l'électrification poussent le groupe Volkswagen vers le plan d'ajustement le plus dur de son histoire, sous la pression de la concurrence chinoise. 1 sources, 1 articles · Wolfsburg — Allemagne, Chine ### 1 November 2026 — [Volkswagen lance un plan de restructuration incluant des fermetures d'usines en Allemagne](https://mecapress.com/events/1438-volkswagen-lance-un-plan-de-restructuration-incluant-des-fermetures-d-usines-en.md) Volkswagen engage un plan d'urgence prévoyant des fermetures d'usines inédites en Allemagne pour faire face à de graves difficultés financières et préserver sa compétitivité. 1 sources, 1 articles · Allemagne ### 1 November 2026 — [Volkswagen reconnaît que ses voitures électriques rapportent moins que ses thermiques](https://mecapress.com/events/988-volkswagen-reconnait-que-ses-voitures-electriques-rapportent-moins-que-ses.md) Le directeur financier de Volkswagen indique que les modèles électriques dégagent moins de marge que les thermiques, tout en soulignant que les ventes de VE doivent croître pour respecter les normes européennes de CO2. 4 sources, 5 articles · Allemagne ### 1 November 2026 — [Volkswagen accélère sur l'électrique mais les résultats ne suivent pas](https://mecapress.com/events/789-volkswagen-accelere-sur-l-electrique-mais-les-resultats-ne-suivent-pas.md) Volkswagen intensifie son offensive électrique, mais les performances financières du groupe restent décevantes, dans un contexte de restructuration. 1 sources, 1 articles · Allemagne --- Cite as: Mecapress, “Volkswagen Group: earnings plunge and major restructuring”, https://mecapress.com/stories/34-volkswagen-group-earnings-plunge-and-major-restructuring Methodology: https://mecapress.com/methodology