Posted on 09/19/2024 11:39:19 AM PDT by RomanSoldier19
W is considering axing as many as 30,000 jobs as it scrambles to save billions of euros amid a slowdown in the car market, German media has reported.
The carmaker recently announced it could close some of its German factories for the first time in history as it struggles to reinvent itself for the electric era.
Analysts at Jefferies said VW is considering closing two to three facilities, with as many as five German sites under threat, putting 15,000 jobs at risk.
That job losses is feared to have doubled to 30,000, according to Manager Magazin, a leading German business publication.
(Excerpt) Read more at msn.com ...
Every car manufacturer that got sucked into Biden Harris EV mandate is suffering
Brit Lefty Rags lies and spins . Pure BS.
These fools are being crushed by NO ONE
wants this Awful useless EVs
just like here .
I would rather walk than buy one of those crappy cars.
So, they'll be permanently shuttered, then? ;)
Sorry to hear of this dumb@ssery with VW. My 2001 VW Golf (yes, she's really 23 years old!) has only 60K on her and she's still going strong. I want to be buried in that car, LOL!
My Dad had 17 VWs through the years. My first car was a 1970 VW Bug, standard transmission, blue and white.
My Golf is not the sexiest vehicle, but she sure is reliable!
Was there a huge special on only one paint color???
I guess the Fatherland doesn’t have the subsides like we do here to keep useless crap afloat.
Of course cutting their gas supply from Russia in order to comply with their overlords wishes had absolutely nothing to do wit it. I bet !
That’s a lot of volks.
Imwas considering buying an Audi A5/S5/RS5 because I like hatchbacks. After doing some research, it became evident that Volkswagen/Audis are both unreliable and expensive to maintain and repair.
Within the last year, with very little (none?) fanfare, VW announced it was “scaling back” production of several EV models. Buried in the details was the key information. Government subsidies had ceased.
There is no “market” for these fancy golf carts outside of those that can afford 2, 3 or more automobiles.
As I have mentioned previously, during our long treks across the fruited plain, we do not encounter EVs during trips across the Great Salt Basin, and even longer across Wyoming.
One of the keys to the car industry is return customers. Ford, Chevy, VW, Honda, etc. There is a huuuuge number of first time EV buyers who will not be continuing.
This means the CEO hopes 30,000 layoffs can turn the company’s financial situation around. If not, more layoffs will follow. Given that rates are coming down, which helps car companies, things aren’t looking good.
My Mother in Law has the exact same car & color.
A buddy had a VW Jetta Diesel. He loved it. It got 48 mpg on the highway.
Mechanics 40 years ago called them Audas. As in “You Auda bought something else.”
Hey, just more proof Bidenomics is working.
As much as I agreed with Trump about Germany and Russian energy being a security issue... I never saw it in the context of a conflict pitting Germany/NATO against Russia, nor did anyone think switching from Russian energy would kill the manufacturing in the EU.
The US immediately filled the Void of energy for Germany at four times the price they were paying Russia.
The US effectively destroyed the EU as a competitor to the US economically over the Ukraine conflict. It was part of our Big Dog saying number one plan.
However, not only did Germany destroy their economy but we have been unwilling to provide them cheap energy.
NATO got the war it wanted, just not the consequences they planned for in the end.
The US had implemented a replacement for the Iron Curtain with the DOLLAR CURTAIN cutting EUrope off from Russia - mission accomplished. Now the EUropean’s have to live the consequences of sanctions. All trade will be dominated by the US for the now poor EUropeans.
Germany is a welfare state. They imported illegal aliens. The EU is a welfare state. So too is the US. Losing the investments in Ukraine is going to hurt the US and EU.
BTC ETFs were the replacement investment for the Blackrock’s who invested in Ukraine.
Yes this is just the beginning of the Great Reset, which idiot Euro’s have embraced.
“These fools are being crushed by NO ONE
wants this Awful useless EVs just like here.
Less so in Europe, they are significantly more woke than we are. But they have reached a peak for EV demand for the foreseeable future. If the EU screw their car companies and allow the $25,000 dollar Chinese electrics cars in (I believe they have / will to a degree) they will be devastated.
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