On Monday, Oliver Blume, CEO of Volkswagen, Europe's largest automaker, stated that U.S. tariffs have cost the group billions of euros in losses. He added that its core brand, Porsche, is facing the dual challenges of tariff pressures and a weak market. During an interview with Reuters at the Munich International Motor Show, Blume said, 'Since the beginning of this year, this situation has caused billions of euros in losses on our balance sheet.'