Volkswagen cuts guidance as U.S. tariffs hit profit<\/p>\n
A technician cleans the VW logo during the final inspection of German carmaker Volkswagen’s electric ID. 3 car, during a media tour, in Dresden, Germany, May 14, 2025. <\/p>\n
Matthias Rietschel | Reuters<\/p>\n
Germany’s\u00a0Volkswagen<\/a>\u00a0on Friday\u00a0lowered its full-year guidance and\u00a0reported a sharp drop in second-quarter profit, as the auto giant navigates the disruptive impact of U.S. tariffs.<\/p>\n 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.<\/p>\n Analysts had expected second-quarter profit to come in at 3.94 billion euros, according to a Factset-compiled consensus.<\/p>\n Read the full story here.<\/a> <\/p>\n \u2014 Sam Meredith<\/p>\n Earnings still in focus<\/p>\n Puma Speedcat trainers are displayed at a Puma store London, Britain, January 23, 2025.<\/p>\n Hannah Mckay | Reuters<\/p>\n It’s set to be a slightly quieter day on the earnings front, but several big names have either reported ahead of the opening bell, or will do so later in the session.<\/p>\n Luxury behemoth LVMH<\/a>, one of the region’s most valuable companies, reported<\/a> lower-than-expected quarterly sales late on Thursday, while German sports apparel giant Puma<\/a> warned this morning that it’s expecting to notch a loss this year on the back of a sales decline and the impact of U.S. tariffs. Elsewhere this morning, German auto giant Volkswagen cut its guidance<\/a>, also citing President Donald Trump’s tariffs regime.<\/p>\n Also due to report today are British lender NatWest<\/a>, French drinks giant Remy Cointreau<\/a> and Italian energy firm Eni<\/a>.<\/p>\n \u2014 Chloe Taylor<\/p>\n Opening calls<\/p>\n Good morning from London.<\/p>\n There’s just under an hour and a half to go until the final opening bell of the week, and regional indexes are currently looking poised to move into negative territory.<\/p>\n Futures tied to the German DAX<\/a>, Italian FTSE MIB<\/a> and French CAC 40<\/a> indexes were all last seen trading 0.2% lower. Those tied to London’s FTSE 100<\/a> were last heading marginally lower.<\/p>\n Regional shares ended the Thursday session higher<\/a>, as investors focused on U.S.-EU trade talks, the European Central Bank’s widely anticipated interest rate hold<\/a> and a flurry of corporate earnings.<\/p>\n \u2014 Chloe Taylor<\/p>\n","protected":false},"excerpt":{"rendered":"Volkswagen cuts guidance as U.S. tariffs hit profit A technician cleans the VW logo during the final inspection…\n","protected":false},"author":2,"featured_media":22433,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[1386,45,161,49,48,16326,100,3097],"class_list":["post-22432","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-breaking-news-markets","tag-business","tag-business-news","tag-ca","tag-canada","tag-earnings","tag-markets","tag-stock-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/22432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=22432"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/22432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/22433"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=22432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=22432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=22432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}