- 4d ago
Volkswagen approves restructuring plan to cut 100,000 jobs and phase out vehicle output at four German plants
The German automaker will eliminate approximately 100,000 positions globally and end car assembly across four domestic factories by 2034, reallocating vehicle lines to Central European plants.
- Aug 23
Volkswagen agrees to 100,000 job cuts and plant reviews under 2030 restructuring plan
The supervisory board approved a turnaround plan targeting a 9% operating margin by 2030, putting four German factories under review and halving the company model range by 2035.
- Aug 23
Lower Saxony premier Olaf Lies urges EU tariffs on Chinese hybrid cars
Lower Saxony Minister-President Olaf Lies has written to European and German leaders seeking import duties on Chinese plug-in hybrids, warning of a 70% export increase and market distortion.
- Jul 27
Audi slashes 2026 revenue forecast by 5 billion euros as China profit collapses and Neckarsulm plant hangs in balance
The Volkswagen luxury group lowered its expected revenue to 58-63 billion euros, down from 63-68 billion, and posted a 21% drop in Q2 net profit. China contributed only 73 million euros in the first half, compared with nearly four times that a year earlier.
- Jul 24
Volkswagen profit plunges 30.7% as China sales collapse and restructuring costs bite
The German automaker reported net profit of €3.1 billion for the first half of 2026, down from €4.5 billion a year earlier, while Spanish subsidiary Seat saw its operating profit triple to €122 million.
- Jul 24
Volkswagen profit drops 32.9% in Q2 as China sales collapse; group cuts full-year revenue forecast and plans up to 50,000 more job cuts
Net income fell to €1.54 billion in the second quarter, down from €2.29 billion a year earlier, while deliveries in China tumbled more than a third to 424,300 vehicles.
- Jun 26
Volkswagen plans 100,000 job cuts and closure of four German plants in deepest overhaul in its 89-year history
Europe's largest carmaker weighs a radical restructuring that would double earlier cut targets, break a union pact, and shrink production capacity to 9 million vehicles a year.
- Jun 25
Volkswagen sells majority of engine builder Everllence to Bain Capital for €7.4 billion
The German automaker is handing over 51 percent of its large-engine subsidiary to the US investor, keeping 49 percent, while securing German jobs until 2030.
