加皇资本市场分析师Tom Narayan写道，鉴于当前的地缘政治局势，大众汽车的2026年预期要求息税前利润率在4%-5.5%的宽泛区间内。该预期计入了30亿欧元的关税，这一数字是基于墨西哥27.5%的关税水平作出的假设。不过，得益于《美国-墨西哥-加拿大协定》的解决方案，情况可能会好于预期，加拿大皇家银行认为这很有可能。加拿大皇家银行补充说，4月份的投资者日将是一次重要的信息发布活动。第四季度及全年业绩基本符合预期。核心品牌和奥迪表现强劲，而保时捷则如预期般面临挑战，金融服务业务则受到一次性和解准备金的冲击。股价上涨2.6%。

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