Volkswagen Will Dramatically Shrink Its Model Lineup And Factory Footprint
It follows reports of 100,000 jobs being under threat at the German automaker.
Tobias Arhelger/Shutterstock
Volkswagen is planning to cut its model line-up in half, as part of Europe's largest automaker's huge efficiency overhaul. The Volkswagen Group's future plans were outlined in a press release cosigned by its Executive Board, in which it also pledged to reduce its production capacity to nine million vehicles per year, down from 12 million pre-COVID-19. A reduction of two million units has already been made. The company blames the "changed global market environment" (aka tariffs) and intensifying global competition.
In its effort to transform Volkswagen into "the most attractive automotive company in the word" by 2030, the model lineup will gradually be "streamlined" by up to 50 percent, with its focus shifting to the most profitable market segments. The automaker's offering complexity will also be reduced by up to 75 percent, so you can...
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