Volkswagen AG reported a first-quarter operating margin of 3.3%, down from 3.7% and below expectations, citing tariffs and one-off charges. CFO Arno Antlitz said the result was “far too low,” as the company seeks further cost cuts and efficiency gains. VW plans to downsize global operations amid declining sales in the US and China and rising competition from Chinese automakers. Key brands Porsche and Audi are under pressure due to setbacks in electric vehicle strategies and software delays, whil

Volkswagen AG reported a first-quarter operating margin of 3.3%, down from 3.7% and below expectations, citing tariffs and one-off charges. CFO Arno Antlitz said the result was “far too low,” as the company seeks further cost cuts and efficiency gains. VW plans to downsize global operations amid declining sales in the US and China and rising competition from Chinese automakers. Key brands Porsche and Audi are under pressure due to setbacks in electric vehicle strategies and software delays, while US tariffs continue to weigh on profitability.