In Volkswagen’s deepening troubles, a reflection of the mounting risks facing Germany.
Discussions seen following increased vigilance on both sides toward US import tariffs by the Trump administration.
With the economy a key factor in German elections this month, can the auto sector get back on the road to recovery?
Volkswagen has been struggling these past few years, but now the German automaker has a plan to become competitive again.
It looks like the situation could be even worse than expected. Porsche said it would cut 1,900 jobs at two German plants by 2029 (via Bloomberg ), blaming “challenging geopolitical and economic conditions.” The sites include Porsche’s Zuffenhausen and Weissach plants, where it aims to reduce around 15% of the workforce.
Germany’s auto industry is in crisis. Sales have declined while production costs soared, leaving Volkswagen AG, Mercedes-Benz Group AG and hundreds of parts makers dangerously behind in the transition to electric vehicles.
For decades, car-making has been the jewel in Germany's industrial crown, a powerful symbol of the country's famous post-war economic miracle. Its "Big Three" brands, Volkswagen, Mercedes-Benz ...