Half-Yearly Financial Report
& Results 2026

“The realignment of Volkswagen Group over the past three years is delivering results. Throughout the group. For the full year, we expect a robust performance above the prior year in a challenging environment – even though our operating result in the first half was around 12 percent below the prior year. Globally, we delivered more cars than in the previous year – excluding the Chinese market, which slumped by 20 percent. Our order book also reflects a positive trend: more than 70,000 orders for our new Electric Urban Car Family around the ID. Polo in just a few weeks – and orders for all-electric vehicles in Europe increased by more than 50 percent in the second quarter. Our products are achieving top scores in comparative tests, awards, and quality studies. Applying disciplined cost managed, we have managed to offset continued unavoidable headwinds in the double-digit billions. At the same time, the environment for the automotive industry remains extremely challenging: geopolitical crises, trade conflicts, high regulatory requirements, volatile markets and intensified competition. In an unprecedented risk scenario, Volkswagen Group enters the next phase of its transformation – from a position of strength and with a clear understanding of the opportunities ahead. With the most comprehensive and far-reaching program in the company’s history – for products, technologies, competitiveness, structures and growth areas. With our future plan, we will become even more innovative, faster, more attractive and robust - and sustainably ensure the Volkswagen Group’s success.”