In the first quarter of 2025, Volkswagen's profits fell by 40.6 percent. According to the official report, since the beginning of this year, the German concern has earned 2.18 billion euros after taxes. The brand's management attributes the record losses compared to the same period last year to the tariffs imposed by the US administration.
At the beginning of 2025, Volkswagen predicted operating profit margins of 6.5%. However, the company's management now expects the data for the full year to be at the lower end of the forecast. Thus, the Germans are at risk of having one of the worst years in terms of profits in their history.
The company's management blames the current situation on US President Donald Trump, who introduced 25 percent protective tariffs on European goods, including cars and components for them. In early April, Volkswagen stopped delivering cars to the United States.