Volkswagen Sales Plunge as German Automaker Lays Out Plan to Slash Number of Brands
fliptop writes:
Volkswagen has reported weak sales numbers, with a significant drop in China:
Volkswagen reported weak sales numbers on Friday, a day after the giant German automaker announced plans to slash the number of models by nearly half as sales plunged, particularly in China.
The Wolfsburg, Germany-based company said group sales fell 8.6% in the second quarter to just under 2.1 million vehicles, with sales in China alone plummeted by more than one-third.
After a board meeting on Thursday, Volkswagen said its "fundamental realignment" over the last three years had reached its next phase, announcing plans to streamline the model lineup by up to half, without providing specifics.
[...] Volkswagen cited dramatic change over the last year, including geopolitical tensions, rising costs mainly through tariffs, and increasing regulatory requirements alongside growing competition.
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