Volkswagen said Friday that net profit fell by a third in the second quarter as the crisis-hit carmaker -- weighing up to 100,000 job cuts worldwide -- grappled with increasing competition in and from China.

Der Gewinn des Volkswagen-Konzerns ist im zweiten Quartal erneut eingebrochen. Auf dem wichtigsten Markt, China, gingen die Verkäufe um mehr als ein Drittel zurück.

German auto giant Volkswagen on Friday reported weaker-than-expected second-quarter profit and revised down its sales forecast for 2026.

Volkswagen now expects sales revenue to decline by up to three percent this year. The company announced a radical overhaul to counter costly tariffs and competition. …