Europe’s largest car manufacturer Volkswagen hopes in the customs dispute between the USA And the European Union on its own deal. Volkswagen boss Oliver Blume (57) spoke on Friday when submitting the business figures for the second quarter of very constructive discussions with the US Ministry of Trade. In a first step, there must be an agreement between the USA and the EU. “We have a very attractive investment package that we can implement in the USA,” said Blume. It may also be about a Audi-Werk in the USA.
The US tariffs already leave deep traces in the carmaker’s balance sheet. The profit collapsed by almost 30 percent to 3.8 billion euros in the second quarter, the turnover was three percent below the previous year’s value at 80.8 billion euros. In the first half of the year alone, the burdens for the Volkswagen Group from the tariffs add up to 1.3 billion euros. Sales in the USA decreased, sales in North America decreased significantly. For the year as a whole, the company cut its forecast and now only expects an operational return on sales between four and five percent, which is 1.5 percentage points less than previously assumed.
US President Donald Trump Had added additional duties for cars of 25 percent in April. The Volkswagen Premium brands Audi and Porschewho do not have their own production in the United States and are therefore completely dependent on imports.
So far, Volkswagen has not passed on the higher taxes to customers, said Blume. Possible price measures stopped at how high the tariffs ultimately fail. He himself assumes 15 percent. That was too high for Volkswagen, he told RTL/NTV. “That is why we rely on our commitment to work further down in the USA.”
The EU Commission recently explained to do everything for understanding with the USA and still believe in a compromise. At the same time, it is preparing for a possible escalation of the trading dispute. At the beginning of the week the USA had with Japan agreed on a customs rate of 15 percent. Two EU diplomats described this as a blueprint for a possible agreement between the EU and the USA.