Key facts
- Volkswagen and Porsche Holding cut their financial outlooks on Friday.
- Porsche SE reported an adjusted group result after tax of 0.9 billion euro for the first half of fiscal year 2026.
- Porsche SE recognized impairment losses of 3.0 billion euro on its investment in Volkswagen AG.
- Porsche SE called for Volkswagen to reduce excess capacity, lower costs, and strengthen decision-making capabilities.
German automakers Volkswagen and Porsche Holding have lowered their financial forecasts, citing a challenging market environment. The announcements were made on Friday, September 19, 2025.
Porsche Automobil Holding SE (Porsche SE), a significant shareholder in Volkswagen, has urged the company to take swift and decisive action to improve its competitiveness. In its first-half 2026 fiscal year report, Porsche SE noted an adjusted group result after tax of 0.9 billion euro, down from 1.1 billion euro in the prior year. The company also recognized non-cash impairment losses totaling 3.0 billion euro on its investment in Volkswagen AG and 0.2 billion euro on Porsche AG.
Hans Dieter Pötsch, chairman of the board of management of Porsche SE, stated that the Volkswagen Group is at a "historic crossroads" and emphasized the need for immediate action to address competitiveness, including reducing excess capacity, lowering costs, and strengthening decision-making capabilities. Dr. Johannes Lattwein, a member of Porsche SE's board, added that Volkswagen risks permanently losing ground to international competitors if these measures are not implemented.