Volkswagen is not worth buying; legacy automaker cannot compete despite short-term factors like tariffs or spin-outs.

Volkswagen stock looks ugly over the last few years.

Then you say the market cap is 20 billion. 75% of that is from Volkswagen, which means 15 billion. So Volkswagen is practically trading at just 30 billion market cap if they would spin out Porsche or like that.

However, if you look at Volkswagen, despite the financial subsidies from the European Central Bank that worked great, where all of Europe was buying German cars with free money for the ECB from 2007, the return was just the dividend with the all the shocks in between.

And that was in the best times for the automotive industry in Europe since like ever. No mode, old legacy simply can't compete. Tariffs, yes, that can help for a while, but that's just a temporary block.

Maybe you can make some money, but for me, it isn't worth it.