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Volkswagen profits drop 10% as embattled automaker considers massive job cuts
Summary by The El Paso Editorial Desk · Based on reporting by CNN Newsource , KVIA ABC-7
· July 24, 2026
· 3 min read
By Anna Cooban, Hanna Ziady, CNN London (CNN) — Volkswagen took a sizeable knock to its profits during the second quarter as it considers cutting tens of thousands of jobs – part of its attempt to better compete against its Chinese rivals. The German automaker said it made €3.5 billion ($4 billio...
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Summary created by The El Paso Editorial Desk — automated, rule-governed Original reporting CNN Newsource, KVIA ABC-7 Original story Read at the source Source published Jul 24, 2026 Indexed here Jul 24, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key takeaway Shares in Volkswagen Group, which also owns Skoda and Audi, have tumbled more than 30% over the past 12 months and were trading down almost 2% early afternoon local time on Friday.
Why this matters in The El Paso
As Volkswagen considers massive job cuts, El Paso residents may wonder how this will impact the local economy. While Volkswagen does not have a major manufacturing presence in El Paso, the city's role in international trade and its proximity to the US-Mexico border make it vulnerable to fluctuations in the global automotive industry. The potential job cuts and restructuring at Volkswagen could have a ripple effect on the local workforce, particularly in industries related to automotive manufacturing and trade. Furthermore, the tariffs on Volkswagen's exports to the US, which are costing the company billions of dollars, may also affect El Paso's trade relationships with Mexico and other countries. As the city's business and government leaders watch the developments at Volkswagen, they may need to reassess their strategies for attracting and retaining businesses in the automotive sector.
About this story
Original reporting by KVIA ABC-7 . The El Paso surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KVIA ABC-7 . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 24, 2026 ·
Source: KVIA ABC-7 ·
Reading time: 3 min
Frequently asked about this story
What is this story about? By Anna Cooban, Hanna Ziady, CNN London (CNN) — Volkswagen took a sizeable knock to its profits during the second quarter as it considers cutting tens of thousands of jobs – part of its attempt to better compete against its Chinese rivals. The German automaker said it made €3.5 billion ($4 billio...
When was this published? This article was first published on July 24, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by CNN Newsource at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The El Paso, or browse our daily briefing and topic hubs .
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