Volkswagen AG

VOW: XETR (DEU)

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Volkswagen Earnings: Cost Discipline Mitigates Weak Volumes, China Remains a Headwind

Rella Suskin , Andrea Burigana

Apr 30, 2026

Volkswagen reported first-quarter revenue of EUR 76 billion, down 2.4% year over year, reflecting a 3.9% contraction in vehicle deliveries as continued strength in Europe was offset by weakness in China and North America. Operating margin declined 40 basis points to 3.3%, below guidance.

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Volkswagen AG

Volkswagen Earnings: Cost Discipline Mitigates Weak Volumes, China Remains a Headwind

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