Volkswagen, Porsche shares extend losses after profit warning

Shares in Volkswagen fell 2% and Porsche's stock dropped 2.8%, extending Friday's declines, after the automaker cut its 2026 profit margin outlook to at most 1% from 4%-5.5% due to a sluggish Chinese market, higher retirement provisions and issues at Porsche. Porsche SE, Volkswagen's biggest shareholder, also slashed its outlook and its shares were 3.5% lower.