Volkswagen Profits Plunge 15% as Costs Surge, Braces for Potential U.S. Tariffs
Summary
Volkswagen's annual operating profit plunges 15% to $352.8 billion in 2024 due to surging costs and restructuring expenses, but the automaker braces for potential U.S. tariffs while operating a major factory in Tennessee and projecting up to 5% revenue growth in 2025.
Key Points
- Volkswagen reports 15% drop in annual operating profit, citing rising costs and restructuring expenses
- Volkswagen posts $352.8 billion revenue in 2024, expects up to 5% growth in 2025
- Volkswagen says it feels 'all-American' as potential U.S. tariffs loom, operates major factory in Tennessee