Volkswagen Guidance Reflects Geopolitical Uncertainty -- Market Talk

Dow Jones03-10

0850 GMT - Volkswagen's 2026 guidance calls for a wide EBIT margin range of 4%-5.5% given the current geopolitical situation, RBC Capital Markets analyst Tom Narayan writes. The guidance incorporates 3 billion euros in tariffs, which assumes a 27.5% Mexico level. However, this could come in better thanks to a U.S.-Mexico-Canada Agreement resolution, which RBC thinks is likely. Guidance also incorporates increased spending in China to launch new models. The investor day in April will be an important messaging event to showcase how VW intends to improve in China, RBC adds. Fourth-quarter and full-year results are generally in line. The core brand and Audi were strong, while Porsche was challenged as expected and the financial services business was hit by a one-time settlement reserve. Shares rise 2.6%. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

March 10, 2026 04:50 ET (08:50 GMT)

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