VW wants to tighten its savings plans. Plant closures are also threatened. The CEO emphasizes the urgency of change.
CEO Oliver Blume has described the economic situation at Volkswagen as alarming. The situation at the VW brand is so serious that everything cannot simply continue as before, Blume told “Bild am Sonntag”. Fewer vehicles are being bought in Europe. At the same time, new competitors from Asia are entering the market with force. “The cake has become smaller and we have more guests at the table,” said the CEO.
VW boss Blume rules out clear-cutting
The entire European car industry is in a situation that has never existed before. “And the economic environment has become even more difficult, especially for the VW brand,” said Blume. But there will be no clear-cutting: “We are firmly committed to Germany as a location, because Volkswagen has shaped entire generations. We have employees whose grandfathers already worked at Volkswagen. I want their grandchildren to be able to work here too.”
At the same time, the manager appealed to the will to change: “Volkswagen also contains the word dare. We have to dare something again: dare to succeed.”
VW tightens austerity measures
Europe’s largest car manufacturer had announced that it would further tighten the austerity measures taken at its core brand VW in view of the worsening situation. A plant closure in Germany and redundancies are no longer being ruled out.
Source: Stern
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
