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International Business Times

Business

Volkswagen Says First-quarter Profits Impacted By Trump Tariffs

Volkswagen Donald Trump United States Audi Porsche

Volkswagen says profits have already taken a hit from US tariffs on cars (Credit: AFP)

German auto giant Volkswagen said Wednesday that tariffs on car imports into the United States ordered by President Donald Trump had dragged down its first quarter operating profit.

Europe's largest auto manufacturer said its operating profit in the first three months of 2025 fell to 2.8 billion euros ($3.1 billion) from 4.6 billion euros in the same period last year.

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