US Edition
Published • loading... • Updated
Volkswagen plans to cut costs by 20% by end 2028, Manager Magazin reports
Volkswagen aims to cut costs by 20% across all brands by 2028, responding to slow sales and competitive pressures with potential plant closures.
- Volkswagen's CEO Oliver Blume proposed a €60 billion cost-cutting program aiming to reduce costs by 20% across all brands by the end of 2028.
- The cost-saving plan responds to financial pressures, sluggish sales, tariffs, and strong competition to restore sustainable profitability.
- Plant closures, including possible German factories, have not been ruled out despite recent factory closures and union agreements to cut jobs without closing plants.
- Volkswagen has not officially commented on the cost-cutting plan, with detailed announcements expected at the group's annual results on March 10.
Insights by Ground AI
Podcasts & Opinions
52 Articles
52 Articles
Volkswagen (VW) CEO Oliver Blume has unveiled a sweeping cost-cutting program, and the struggling German automaker is facing its biggest restructuring since the emissions cheating scandal, or Dieselgate.
·Estonia
Read Full Article
Volkswagen plans to cut costs by 20% by end 2028, Manager Magazin reports
Volkswagen plans to cut costs by 20% across all brands by the end of 2028, Manager Magazin reported on Monday, as the German automaker looks to shore up its finances to counter the impact of higher costs, a tough Chinese market and U.S. tariffs.
·United Kingdom
Read Full Article
According to a media report, VW wants to significantly reduce costs by 2028. What is behind the planned 60 billion euro savings program and how the works council stands about it.
·Düsseldorf, Germany
Read Full Article
Coverage Details
Total News Sources52
Leaning Left2Leaning Right7Center8Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
12%
C 47%
R 41%
Factuality
To view factuality data please Upgrade to Premium
