Volkswagen reports profit decline in first quarter

BERLIN: Volkswagen on Thursday reported a 14% decline in operating profit at the start of the year as it faces tariff pressures, geopolitical uncertainty and stiff competition from Chinese brands.

The German auto group, which includes subsidiaries Porsche and Audi, reported first-quarter operating profit of 2.5 billion euros ($2.9 billion).

Analysts had expected profit to remain largely flat at 2.9 billion euros, according to a poll conducted by Visible Alpha.