Arno Antlitz, chief financial officer of the Volkswagen Group, discusses the firm’s earnings and the impact of U.S. import tariffs.

Europe's biggest carmaker posted a sharp drop in second-quarter profit, primarily due to high costs from increased U.S. import tariffs.

Arno Antlitz, chief financial officer of the Volkswagen Group, discusses the firm’s earnings and the impact of U.S. import tariffs.

Carmaker joins Stellantis and GM in reporting hits to their profits as tariffs drive up costs for the industry.

Volkswagen said Friday year-over-year operating profit fell by $1.84 billion in the second quarter as the German automaker navigates the effects of U.S. tariffs