Volkswagen profits tumble as tariffs weigh on auto industry | Automotive Industry News

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

Volkswagen has reported $1.5bn in losses in the first half of the year because of tariffs imposed by United States President Donald Trump.

The German carmaker reported a hit as the company revised its full year sales and profit margin forecasts.

Volkswagen, Europe’s biggest carmaker, now expects this year’s operating profit margin to be 4 percent to 5 percent, compared with…