Volkswagen's 2026 Outlook Embeds Geopolitical Risks, Says RBC

Deep News03-10

RBC Capital Markets analyst Tom Narayan noted that Volkswagen AG's 2026 forecast, which projects an EBIT margin within a broad range of 4% to 5.5%, reflects the current geopolitical climate. This outlook incorporates an assumption of €3 billion in tariffs, based on a hypothetical 27.5% tariff rate applied to vehicles from Mexico. However, RBC believes the situation could be more favorable than anticipated due to a potential resolution under the US-Mexico-Canada Agreement, which the firm views as highly probable. RBC added that the investor day scheduled for April will be a significant event for further details. The company's fourth-quarter and full-year results were largely in line with expectations. The core Volkswagen brand and Audi performed strongly, while Porsche faced challenges as expected, and the financial services division was impacted by a one-time provision for a legal settlement. The stock price rose by 2.6%.

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