Volkswagen's Porsche Writedown and a Paused Electric Golf Frame a Bruising Autumn
Published on 11/09/2026 at 15:51 | Editorial boerse-global.de
Volkswagen's preferred shares shed 2.5% on Friday as a technology-driven selloff swept through US and Asian markets. A court ruling in Braunschweig added its own weight to the session, though no single trigger has been established as the sole cause of the decline.
Two Braunschweig rulings land on the same day
Judges at the Braunschweig regional court issued an arrest warrant for one of three defendants in the newly opened VW diesel fraud trial, a measure intended to keep the proceedings on track. The 66-year-old has lodged a complaint against the decision, as reported by Handelsblatt and Tagesschau. Shares traded lower after news of the ruling emerged, according to dpa-AFX.
Separately, the Braunschweig labour court ordered Volkswagen to repay roughly EUR 300,000 in salary to a dismissed former manager, covering a period of about one year, Handelsblatt reported.
A EUR 5.82 billion quarterly loss and a EUR 6.4 billion Porsche charge
The pressure on management was already visible in results published about two weeks ago. Volkswagen booked a loss after tax of EUR 5.82 billion in the third quarter of 2026, hit by special writedowns, weaker demand in China and US tariffs. Impairments on the Porsche brand value accounted for EUR 6.4 billion of that burden. Special items for the first nine months of 2026 reached EUR 8.7 billion, and the group guided toward an operating return on sales of up to 1% for the full year.
Should investors sell immediately? Or is it worth buying Volkswagen?
Bernstein restarts coverage at Market-Perform
Bernstein resumed its assessment of Volkswagen on Thursday with a "Market-Perform" rating and an EUR 80 price target. Analyst Harry Martin pointed to the extensive restructuring under way alongside significant investment in products and manufacturing. JPMorgan had cut its target for the preferred stock to EUR 85 on 29 October following the quarterly figures, keeping its "Neutral" rating.
Wolfsburg pauses ID. Golf prep as Elli exits charging hardware
On the operational side, dpa-AFX reported on 30 October that Volkswagen had suspended preparatory work on the electric ID. Golf at its main Wolfsburg plant. The group also agreed a strategic semiconductor partnership with NXP Semiconductors on 26 October, under which NXP microcontrollers will support the future software-defined vehicle architecture; the first vehicle using the technology is slated for 2027.
At subsidiary Elli, a repositioning is under way. Media reports said the unit announced on 3 November that it would withdraw from charging hardware, including wallboxes and the construction of charging infrastructure for corporate customers. The charging network with more than one million points in Europe will continue, as will fleet solutions and Volkswagen Naturstrom. Talks with employee representatives over possible job cuts are ongoing; Elli chief Giovanni Palazzo declined to give dpa a figure for how many staff might be affected.
Volkswagen at a turning point? This analysis reveals what investors need to know now.
Cost reduction is also on the agenda for the upcoming wage talks with IG Metall. The first round is set for 24 November 2026 in Emden, with a follow-up on 15 December 2026 in Zwickau.
Ad
Volkswagen Stock: New Analysis - 9 November
Fresh Volkswagen information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
