# Volkswagen's net profit slides 28% to €1.56 billion from January to March.

*business · news · 2026-04-30 · Euronews*

## Key points

- Volkswagen's Q1 net profit dropped 28% to €1.56 billion, exceeding analyst expectations for losses.
- US tariffs introduced a year ago are adding €4 billion in annual costs to Volkswagen.
- Chinese automakers, especially in EVs, are taking significant market share from Volkswagen in China and Europe.
- Volkswagen plans to cut 50,000 jobs across all its brands in Germany by 2030.
- Sales in China fell 20% year-on-year, significantly impacting Volkswagen's global performance.

**Companies:** Volkswagen
**Countries:** Germany, China, United States

[Read the full story on Euronews](https://www.euronews.com/business/2026/04/30/volkswagen-profit-drops-as-carmaker-signals-further-cost-cuts)

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