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A worker performs a final check on new Volkswagen ID.3 electric cars at the Volkswagen plant on May 14, 2025 in Dresden, Germany.
Sean Gallup | Getty Images News | Getty Images
Germany’s Volkswagen on Friday lowered its full-year guidance and reported a sharp drop in second-quarter profit, as the auto giant navigates the disruptive impact of U.S. tariffs.
Europe’s biggest carmaker posted operating profit of 3.83 billion euros ($4.49 billion) for the three months through June, down 29% from 5.4 billion euros a year ago.
Analysts had expected second-quarter profit to come in at 3.94 billion euros, according to a Factset-compiled consensus.