VW to cut 50,000 jobs by 2030 amid Trump tariffs and falling Chinese sales

Car group reports 54% drop in pre-tax profits as it says Iran war could affect demand for Audi and Porsche brands Europe’s largest automaker, Volkswagen, is to shed 50,000 jobs by the end of the decade, as it faces falling sales in China and North America and punitive US tariffs imposed by Donald Trump. The 10-brand group, whose luxury subsidiaries Porsche and Audi are also under pressure, said the jobs would go in Germany, affecting the entire group, as part of a restructuring drive amid the darkening global business climate. The group had already struck a deal with German trade unions at the end of 2024 to cut 35,000 jobs by 2030, in part by natural attrition through retirement and other staff departures. Volkswagen revealed the updated plans as it announced a 54% drop in pre-tax profits. The group has been scaling back its targets for electric vehicle (EV) production in recent months, including at its Italian supercar manufacturer, Lamborghini. As the US-Israeli military action against Iran stokes market uncertainty and drives up energy prices, Volkswagen warned that global turbulence would negatively affect its outlook. “Challenges are expected in particular from the macroecono