Volkswagen stock outlook: What's next after job cuts and earnings?
Volkswagen remains under pressure from its large-scale restructuring program despite reaffirming its full-year guidance. The company's upcoming earnings report is now expected to determine whether management's outlook is justified.
Amid ongoing challenges, Volkswagen's management is reportedly considering cutting up to 50,000 additional jobs, potentially bringing the total number of planned layoffs to around 100,000 employees. The restructuring reflects declining competitiveness in Europe, growing pressure from Chinese automakers, high production costs, and the impact of global trade restrictions.
Despite the scale of these measures, Volkswagen has reaffirmed its 2026 guidance. The company continues to expect 0–3% revenue growth, an operating margin of 4.0–5.5%, automotive division capital expenditure of 11–12% of revenue, net cash flow of €3–6 billion, and net liquidity of €32–34 billion.
As a result, investors are now focused on the company's July 24 earnings report. If Volkswagen delivers weaker-than-expected results, the stock could face another significant selloff.

Volkswagen attempts to fill its gap at €74.70
The reaffirmation of the company's financial guidance has provided Volkswagen shares with a modest bullish boost.
In the short term, the most likely scenario is a move toward the unfilled gap-down level around €74.70.
This outlook is also supported by the stock's oversold technical condition following its prolonged decline.
From a medium-term perspective, the recent low at €69.20 remains the key support level. The July 24 earnings report will likely determine the stock's next major directional move.
Volkswagen's earnings will be a crucial test
Despite reaffirming its full-year guidance, investors remain cautious about Volkswagen's outlook. The scale of the company's cost-cutting program highlights the depth of its structural challenges.That is why the July 24 earnings report will be a critical event for VOW3 shares. Confirmation of the company's financial targets and more confident guidance from management could support a recovery, while weaker-than-expected results or a downward revision to the outlook could trigger another wave of selling.
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