Volkswagen AG (Pfd)

Deutsche Bank identified Volkswagen as a risk due to potential U.S. tariffs, a tough economy, slow electric vehicle adoption, and rising competition from China.

Volkswagen is preparing for potential U.S. tariffs on Mexican imports. CEO Thomas Schaefer noted that increasing Chattanooga production will take time, dismissing a quick model shift as unrealistic.

Volkswagen's valuation is noted to be 17 times its projected 2028 earnings, in comparison to BYD's autos division, which is valued at less than 5 times its projected earnings.