Volkswagen
Volkswagen Seeks 10% Pay Cut from German Workers as Q3 Profit Drops 42%
November 01, 2024 – According to Reuters, Volkswagen has requested a 10% pay cut from its German employees on Wednesday, citing it as the only way to save jobs and maintain competitiveness amid falling profits and threats of strikes from the labor union. The company, which is facing a three-year low in profits, has not…
German States Pledge to Avert Volkswagen Factory Closures and Layoffs
October 17, 2024 – In a significant development on Tuesday, four German federal states – Lower Saxony, Saxony, Hesse, and Berlin – have vociferously opposed the closure of Volkswagen factories and layoffs within their jurisdictions, according to Eurasia Daily. A jointly signed document by the states’ economic ministers stated, “All factories must remain fully intact.”…
Volkswagen and German Unions Enter Critical Labor Talks Amid Layoff, Plant Closure Concerns
September 26, 2024 – Negotiations between Volkswagen executives and labor unions commenced on Wednesday, addressing salary issues that could potentially determine the extent of layoffs and possible plant closures at Europe’s largest automaker in Germany. Thorsten Gröger, the chief negotiator for the union, stated unequivocally, “We will not negotiate on plant closures or massive layoffs.”…
Volkswagen Shifts Focus: Polo Production Halts in Europe to Make Way for Compact Electric Cars
September 24, 2024 – After a four-decade journey, Volkswagen has brought the curtain down on the production of its iconic Polo in Europe, as reported by European Car News and Carscoops today. The small car, which was being manufactured at the company’s Pamplona factory in Spain, will now be exclusively produced at the Kariega plant…
Volkswagen CEO Addresses Declining Sales and Layoffs: ‘Smaller Pie, More Guests at the Table’
September 10, 2024 – This Sunday, the CEO of Volkswagen, Oliver Blume, defended the company’s plan for large-scale layoffs in the face of the current economic situation. Blume stated unequivocally that the prevailing economic conditions are “so severe” that the old ways of doing business can no longer be replicated. He explained, “Car sales in…
Volkswagen Pays Homage to Golf Fire and Ice with New ID.3 GTX Fire+Ice Electric Hatchback
September 07, 2024 – At the ID. conference held in Locarno, Switzerland, Volkswagen unveiled the ID.3 GTX Fire+Ice, a collaboration with fashion brand Bogner that pays tribute to the Golf Fire and Ice of the 1990s. Volkswagen highlighted the Golf Fire and Ice’s immense success, noting its loyal fanbase worldwide and the admiration it holds…
Volkswagen to Launch In-Car AI Chatbot Service with ChatGPT in the US Tomorrow
September 05, 2024 – Volkswagen announced in a press release on September 3rd that it will begin integrating OpenAI’s ChatGPT AI chatbot service into multiple car models starting tomorrow, September 6th. During the CES 2024 event in January of this year, Volkswagen made headlines by declaring its intention to incorporate ChatGPT into its vehicles, thereby…
Volkswagen Mulls Closing German Factories in Historic Move to Cut Costs
September 03, 2024 – According to a report by Bloomberg, the Volkswagen Group is contemplating the closure of its German factories as a measure to further reduce expenses. The potential measures, outlined in a statement released on Monday, are targeted at Volkswagen’s primary passenger car brands as well as other group entities. Additionally, the company…
German Antitrust Authority Gives Green Light to Volkswagen-Rivian Joint Venture
July 30, 2024 – The German antitrust regulatory authority, the Bundeskartellamt, announced on July 29 local time that it has approved the establishment of a 50%-50% joint venture between Volkswagen and the American automotive startup Rivian. The regulator also gave the nod for Volkswagen to acquire a minority stake in Rivian. Volkswagen had previously declared…
Volkswagen CFO Advocates Cost Reduction Over Tariffs to Compete With Chinese EVs
May 27, 2024 – According to a report by Bloomberg, Arno Antlitz, the Chief Financial Officer of Volkswagen, stated this week that imposing higher import tariffs on Chinese-made electric vehicles by the European Union would only provide a “temporary breather.” In the long run, he emphasized, cost reduction remains the essential condition for maintaining competitiveness….