Always troubled waters at home Volkswagen. And this time the recall comes directly from its main shareholder, Porsche SEThe Porsche and Piëch families have increased pressure on the Wolfsburg group, asking management to accelerate the measures needed to regain competitiveness. The pressure comes as the CEO Oliver flower is preparing a new and profound phase of restructuring, made increasingly urgent by high industrial costs in Germany, by tariffs and above all by growing competition from Chinese manufacturers.
To indicate the need for a change of pace is Hans Dieter Potsch, Chairman of the Board of Management of Porsche SE. “The group finds itself at a historic crossroads"The decisions Volkswagen makes now will determine its future," he said. Pötsch then called on all parties involved to assume their responsibilities, warning that "the longer decisions are postponed, the bigger the problems will become."
Blume pushes for restructuring, with the possibility of another 50 cuts.
The pressure from shareholders comes as Volkswagen seeks to strengthen its cost reduction program already started in the last period. Blume has a further 50 job cuts are expected, which would bring the overall reduction up to 100 thousand jobs, together with the possibility of closing four factories in Germany. However, the project must deal with theopposition from workers' representatives and Lower Saxony, which, thanks to its stake, holds a 20% blocking minority in the group. Both parties reportedly opposed the proposals put forward by Blume at the last supervisory board meeting in July.
Porsche SE, on the other hand, is firmly in favor of greater acceleration“It is essential to reduce excess capacity, significantly lower costs and radically strengthen the group's decision-making and execution capacity,” he said. Johannes Lattwein, head of finance and IT for the holding company. The message to Wolfsburg is simple: "Competitiveness is the goal. Every option must be considered to achieve it. Otherwise, Volkswagen risks permanently losing ground to its international competitors," added Lattwein.
German costs and Chinese competition put Volkswagen under pressure
Il the main issue remains the industrial structure of the groupVolkswagen continues to struggle with high production costs in Germany, under-capacity plants and growing overcapacity, while pressure from Chinese manufacturers is mounting on the international market. competition It is particularly strong precisely in China, the world's largest automotive market, where local manufacturers have gradually taken over from Western brands. It is in this context that Porsche SE is calling for "quick and decisive decisions," prioritizing improved profitability, greater capital efficiency, and a more sustainable cost structure.
La holding position weighs particularly on the balance of the group. Porsche SE, through which the Porsche and Piëch families exercise control, in fact owns the majority of Volkswagen ordinary shares and 25% plus one ordinary share of Porsche AGThe call for speed comes after Porsche AG itself has already negotiated its own restructuring package.
Porsche SE closes the half-year with adjusted profit of 949 million euros
The new pressure on Volkswagen accompanies the publication of the Porsche SE half-year resultsIn the first six months of 2026, the holding company's adjusted net profit fell to €949 million, from €1,11 billion in the same period of 2025. The result was impacted by the weaker performance of its two main holdings. Volkswagen contributed approximately €800 million, while Porsche AG contributed approximately €100 million.
Even more marked is the deterioration of the net accounting result, which went from a profit of €338 million in the first half of 2025 to a loss of €2,22 billion. The loss was primarily driven by non-cash write-downs of approximately €3 billion on the Volkswagen stake and another €200 million on Porsche AG. On the financial front, Porsche SE's net debt fell to €4,98 billion at the end of June, compared to €5,1 billion at the end of 2025. For the full year, the holding company continues to forecast adjusted net income of between €1,5 billion and €3,5 billion and net debt of between €4,7 billion and €5,2 billion.
