Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com -- Volkswagen’s Chief Financial Officer Arno Antlitz told investors on Thursday that higher U.S. tariffs are expected to remain in place, as the German automaker faces up to €5 billion ($5.83 billion) in tariff-related costs this year.
"We expect the tariffs to stay," Antlitz said following the company’s third-quarter earnings report, which showed a loss for the period.
The CFO detailed that of the €5 billion total impact, at least €4 billion would come directly from tariff payments, with the remainder attributed to weaker margins resulting from countermeasures. The year-to-date impact of tariffs has already reached €2.1 billion.
Antlitz indicated that Volkswagen is exploring various countermeasures to address the tariffs imposed during President Donald Trump’s trade war, with the primary focus being on compensating through cost-side adjustments. The company is also considering localizing production for its Audi brand, though he noted it was "too early for indication on that."
Regarding other markets, Antlitz described the Chinese market environment as "highly challenging," stating that demand has stabilized but at a low level. For Europe, the CFO said Volkswagen does not plan to increase its market share.
When asked about Nexperia, Antlitz suggested that any solution "should be on the political side." He also mentioned that the company does not expect major one-off expenses in the fourth quarter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.