Volkswagen suffers $1.5 billion loss from Trump's tariffs

President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday.

Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands including Audi, Lamborghini and Porsche.

The company warned of further “challenges” that will arise from “an environment of political uncertainty, expanding trade restrictions and geopolitical tensions,” among other factors.

Volkswagen marks the latest in a string of major carmakers to announce billions in tariff-related losses.

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General Motors on Tuesday said tariffs on cars and auto parts drove $1.1 billion in losses over three months ending in June. A day earlier, Jeep maker Stellantis said it expects to have suffered $2.7 billion in losses over the first half of 2025 due in part to U.S. tariffs.

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Electric-vehicle maker Tesla this week reported a roughly $3 billion drop in revenue over three months ending in June when compared to the same period a year earlier.