Volkswagen cut its 2026 operating margin forecast from 4–5.5 percent to 1 percent at most, citing a weak Chinese market, higher provisions for retirements and the situation at Porsche, where it booked a €6 billion goodwill impairment, according to the company’s own statement and Reuters.

Special effects total about €10 billion for the year, including the planned sale of the Osnabrück plant. Volkswagen brand chief Thomas Schaefer told workers in Wolfsburg on Monday that the company will “significantly step up” its performance programme, on the day IG Metall took protests to several German cities.