Volkswagen cuts 2026 margin outlook as Volkswagen stock sits 37.93 percent below its high

Published on 10/05/2026 at 12:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

2026 margin target falls to 1.00 percent from 4.00-5.50 percent. Volkswagen stock costs EUR 67.76 on October 5, 2026 versus EUR 67.68.

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Volkswagen AG (ISIN DE0007664039) was trading at EUR 67.76 at Lang & Schwarz on October 5, 2026 at 12:17 p.m. CEST, 37.93 percent below its 52-week high of EUR 109.15. On September 18, 2026, Volkswagen cut its 2026 operating return on sales outlook to up to 1.00 percent from 4.00-5.50 percent.

Margin outlook drops sharply

The revised forecast also puts 2026 sales revenue at EUR 315 billion, compared with EUR 321.90 billion in fiscal 2025. Volkswagen said special effects totaling EUR 10 billion would weigh on operating profit, including EUR 0.90 billion already reported in the first half of 2026.

Reuters reported on September 18, 2026, that roughly EUR 6 billion of the impairment charge was linked to new assumptions for Porsche. The report also said analysts expected a 4.10 percent margin for 2026, leaving Volkswagen's new ceiling 3.10 percentage points below that comparison.

First-half figures show the pressure

Volkswagen's first-half 2026 sales revenue was EUR 158.10 billion, compared with EUR 158.40 billion in the first half of 2025. The operating result fell 11.60 percent to EUR 5.90 billion from EUR 6.70 billion, while the operating return on sales was 3.80 percent.

The first-half operating result matters because the new full-year margin ceiling is below the 3.80 percent achieved in the first half. Volkswagen also reported first-half vehicle deliveries of 4.00 million, down 8.40 percent from 4.40 million in the comparable period.

Stock stays below its yearly high

At EUR 67.76, the Lang & Schwarz quote stood EUR 41.39 below the 52-week high of EUR 109.15 on October 5, 2026. The reference price was EUR 0.08 above the prior Lang & Schwarz close of EUR 67.68 from October 2, 2026, a gain of 0.12 percent.

The next reported milestone is scheduled for October 29, 2026, when Volkswagen plans to publish its January-to-September report, according to the Volkswagen investor page. The further course of trading is shown by the continuously updated real-time quote of Volkswagen AG stock.