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U.S. Import Taxes Cost Volkswagen €1.3 Billion In Losses
There are major financial setbacks and enormous financial setbacks. The Volkswagen Group reports one in the latter category. The company is losing over a billion euros in revenue
During the presentation of the half-year figures, the Volkswagen Group reported that American import duties cost the concern a whopping € 1.3 billion in the first six months of this year.
Profit in the first half of the year was almost 40 percent lower than in the same period last year. Under the heading “net profit,” the Volkswagen Group recorded a figure of just under €4.48 billion. This compares to nearly €7.3 billion in the first half of 2024.
Revenue reached an unfathomable sum of 158 billion, slightly less than a year earlier.
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