The Volkswagen premium brand lowered its 2026 revenue and margin outlook after weaker sales in China and the U.S., while keeping its net cash flow forecast unchanged.
Audi lowered its full-year 2026 guidance after weaker sales in China and the U.S. and rising tensions in the Middle East added to pressure on the Volkswagen premium brand. The company cut its revenue forecast to €58 billion-€63 billion from a previous expectation of above €63 billion and reduced its operating margin target to 5%-7% from 6%-8%, while maintaining its net cash flow outlook at €3 billion-€4 billion. First-half revenue fell 10% to €29.2 billion, hurt by lower volumes in China and the U.S., an unfavorable product mix and lower component supply revenue for local production in China. Operating profit rose 3% to €1.12 billion as cost controls, lower CO2 compliance provisions and reduced restructuring costs supported margins, but pre-tax profit, after-tax profit and earnings from China all declined. Chief Financial Officer Jürgen Rittersberger said the company must work with the Volkswagen Group to rebuild its business model and advance large-scale structural reforms, as Audi also reduces capacity at its Neckarsulm plant.