VW warns of €5bn tariff hit after first loss since Covid
Europe’s largest carmaker among hardest hit by Trump’s trade war
Europe’s largest carmaker among hardest hit by Trump’s trade war

German auto group lowers return-on-sales estimate after taking €1.3bn tariff hit

German carmaker says it must ‘rigorously’ cut costs as wars and tariffs cloud outlook

US president has threatened to raise levies to 25% if EU does not implement last year’s trade deal

Analysts warn Europe’s largest carmaker may struggle to lift margins despite historic restructuring

Higher levies mean rising costs for importing into the US, parts procurement and supply chain adjustments

The risks of decline go far beyond any single company