Volkswagen is facing significant challenges in the automotive market, particularly due to declining demand in Europe and stiff competition from Chinese EV manufacturers, affecting its sales and profits.
The company's operating profit has seen a staggering decline, dropping nearly 37% in the first nine months of 2024, highlighting the financial pressures it faces amidst rising costs and competition.
Amidst rising energy prices and competitive pressures, Volkswagen is making drastic cuts including a workforce reduction of 35,000 jobs in Germany, indicating the severity of its situation.
Volkswagen's management is grappling with a changing market and strategic miscalculations, as they try to compete with both local and global rivals while managing operational challenges.
Collection
[
|
...
]