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Porsche SE CEO Hans Dieter Pötsch emphasized that VW "must undertake significant actions, including reducing production capacity and lowering costs, to enhance competitiveness; otherwise, it risks permanently lagging behind its rivals." He also mentioned that "the longer the issue is postponed, the more serious it gets."
Porsche SE announced that it needed to reduce the value of its assets by €3 billion in the first half of the year because of issues with VW. The group's pre-tax earnings for the period decreased by 14.5% to €949 million. The organization recently revealed a reduction in sales forecasts for 2026.
In recent times, VW has encountered challenges, especially from declining demand, issues with electric vehicle sales, and heightened competition from Chinese companies. Starting in 2024, the company revealed that it would need to shut down factories and terminate tens of thousands of workers.
In June of this year, it was revealed that VW CEO Oliver Blume intends to reduce up to 100,000 positions globally in the upcoming years. Additionally, it was noted that the company is pondering the relocation of certain factories to Chinese car manufacturers or repurposing them for arms manufacturing.
source: dw.de
Porsche SE announced that it needed to reduce the value of its assets by €3 billion in the first half of the year because of issues with VW. The group's pre-tax earnings for the period decreased by 14.5% to €949 million. The organization recently revealed a reduction in sales forecasts for 2026.
In recent times, VW has encountered challenges, especially from declining demand, issues with electric vehicle sales, and heightened competition from Chinese companies. Starting in 2024, the company revealed that it would need to shut down factories and terminate tens of thousands of workers.
In June of this year, it was revealed that VW CEO Oliver Blume intends to reduce up to 100,000 positions globally in the upcoming years. Additionally, it was noted that the company is pondering the relocation of certain factories to Chinese car manufacturers or repurposing them for arms manufacturing.
source: dw.de
